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THE WHAT? Procter & Gamble has reported its outcomes for the fourth quarter and full yr of fiscal 2023. The US FMCG big branded its efficiency within the remaining three months of the yr a ‘very robust end’ as web gross sales rose 5 % and diluted and core EPS jumped 13 %.
THE DETAILS That last-minute uplift contributed to 2 % web gross sales progress for the total yr to US$80.2 billion, with diluted and core EPS additionally rising 2 %.
Within the April to June 2023 interval, Magnificence was among the many strongest performers with web gross sales up 8 %, which P&G attributed to a powerful efficiency from its hair care manufacturers in addition to a stable gross sales soar from the skincare and private care class. Elevated pricing performed a key function in worth gross sales rises throughout the board.
For fiscal 2024, P&G has forecast gross sales progress within the vary of three to 4 % versus the prior yr and web earnings per share progress of six to 9 %.
THE WHY? Jon Moeller, Chairman of the Board, President and Chief Govt Officer, commented, “The April-June quarter offered a really robust end to fiscal yr 2023 – top-line progress, bottom-line progress, and money era. The group met or exceeded our going-in plans for gross sales, earnings, and money in a tough working surroundings and regardless of important price headwinds.
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