Procter & Gamble is raising its guidance for organic sales growth for financial 2017 after reporting better-than-expected organic sales growth for the second quarter of the fiscal year. The company is now anticipating organic sales growth of two to three percent.
“We delivered good results in the second quarter in a difficult operating environment,” said Chairman, President and CEO David Taylor. “Stronger top-line performance in the first half of the fiscal year is enabling us to increase our organic sales growth outlook for the full year – another step towards the levels of balanced top-line, bottom-line and cash flow growth that will consistently put P&G shareholder value creation among the best in our industry.”
In the second quarter, organic sales were up 2 percent overall, with the beauty segment growing 3 percent, thanks to the continued growth of super-premium SK-II and organic sales growth from the Pantene and Head & Shoulders hair care brands. The health care unit put in the best performance, with organic sales up 7 percent, while grooming remained largely flat with organic sales up just 1 percent.