The Strategist

P&G's net profit rises in the first half of the year

01/20/2022 - 08:30

U.S. Procter & Gamble (P&G), one of the global leaders in consumer products, posted a 2.1% year-on-year increase to $8.368 billion in net profit for the first half of fiscal year 2021-2022, ending Dec. 31, according to the company's financial statements.

Mike Mozart
Mike Mozart
P&G's net profit for the second quarter of the fiscal increased 9% year on year to $4.242 billion, while profit attributable to shareholders rose 10% to $4.223 billion. Diluted quarterly earnings per share were $1.66 compared with $1.47 a year ago. Adjusted earnings per share were also $1.66, which was in line with analysts' forecasts.

The company's revenue for the quarter climbed 6 percent year on year to $20.953 billion. Analysts were expecting revenue of $20.34 billion.

The company still expects diluted earnings per share growth of 6-9% in the current fiscal year from $5.5 per share in fiscal 2020-2021. The sales forecast has been improved, with growth now expected to be 3-4% year-on-year rather than 2-4%. Organic sales growth expectations have been improved to 4-5% from 2-4%, it says.

Procter & Gamble, founded in 1837, is based in the US state of Ohio. It produces consumer products, which are sold in more than 70 countries. Among the most famous brands of Procter & Gamble are washing powders Tide and Ariel, a range of hair care products Pantene, toothpastes Crest and Blend-a-med. The company opened a representative office in Russia in 1991 and today sells more than 70 brands in the country.