P&G profit and revenue exceeded the forecasts

02.08.2016

The world's largest consumer products manufacturer - American Procter & Gamble Co (NYSE: PG), shortly called P&G - increased its net profit in the fourth fiscal quarter despite the decline in revenue, both figures being above market expectations.

Net income of P & G has jumped to $ 1.95 billion in April-June, or $ 0.69 per share, compared with $ 521 million, or $ 0.18 per share, for the same period a year earlier, the company said.

P & G's profit excluding non-recurring factors amounted to $ 0.79 per share, while analysts polled by FactSet expected this figure at $ 0.74 per share.

The company's revenue decreased by 3% in the last quarter - to $ 16.1 billion, which was also higher than the expectations of experts who expected the figure to $ 15.83 billion level.

The net profit of P & G over the past financial year jumped by 51%, to $ 3.69 per share, revenue fell 8% to $ 65.3 billion.

According to the company forecast, its adjusted earnings in the current fiscal year will increase by a number up to ten, up from $ 3.67 per share in the last year, while experts polled by FactSet expect a growth rate of 7.6%. The company also expects sales growth in organic terms by 2%.

Procter & Gamble started its activity in 1837 as a small family business for the production of soap and candles in Cincinnati (Ohio). Currently, the company has on the market nearly 300 brands in more than 160 countries around the world. The total annual turnover of the company is more than $ 68 billion.

The main activities of P & G are the production of consumer goods in the following main categories: cosmetics and perfumes, personal care, household products, health products, funds for child care, as well as animal feed. Among the company's brands one can find Pampers, Tide, Ariel, Always, Pantene, Mach3, Pringles, Lenor, Oral-B, Duracell, Olay, Head & Shoulders, Wella, Gillette, Braun.

Shares of P & G, during the preliminary auction in New York on Tuesday, rose 0.8%, and the company's capitalization has grown by 8.8% since the beginning of the year - to $ 227.8 billion.

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