Procter and Gamble reports 12% full-year sales growth

Procter & Gamble has announced its financial results for the for the 2007 fiscal year, with the firm reporting a 12 per cent increase in sales to $76.5 billion (37.6 billion pounds).

The firm reported that this growth in sales was driven by initiatives across a number of its important brands and double-digit sales growth in developing regions.

Healthcare sales grew 14 per cent during the year to $9 billion, a rise attributed to solid growth on the foundation of the business, as well as three additional months of Gillette Oral Care revenue compared to 2006.

Diluted net earnings for the year ended June 2007 rose by 15 per cent on last year’s figure, reaching $3.04.

AG Lafley, chairman and chief executive of the company, said: “This marks the sixth consecutive year in which P&G delivered topline growth at or above the company’s targets.

“These results were achieved at the same time the organization was integrating Gillette, which is progressing ahead of plan.”

He added that the robust nature of the results has facilitated an increase in its share repurchase plans over the next three years, while the company is confident that it has in place the necessary expertise and strategies to fully exploit its substantial opportunities for future growth.

In May 2007, Procter & Gamble announced a planned restructuring of its business, with the firm to be realigned into three global segments: beauty care, global health and well being; and household care.