7/31/2018, 1:03 PM (Source: TeleTrader)
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P&G reports net sales of $16.5B in Q4, up 3% YoY

American consumer goods corporation Procter & Gamble Co. (P&G) announced on Tuesday its net sales in the fourth quarter of fiscal 2018 stood at $16.5 billion, growing 3% compared to the final quarter of fiscal 2017. The company marked a 12% decrease in diluted earnings per share (EPS) compared to the same time period last year, to reach a figure of $0.72. Operating income stood at $2.7 billion, decreasing 9% year on year.

The biggest contributors to the company's sales were the beauty segment ($3.1 billion) and health care ($1.8 billion). The sales of the two categories increased 37% and 2% respectively, compared to the same time period last year.

“We made important progress in fiscal 2018,” P&G Chief Executive Officer David Taylor stated. “We delivered strong volume and consumption growth, market share trends improvement... We will continue to drive cost and cash productivity improvements, and we will invest in the superiority of our products, packages and demand creation programs," he added.

Following the release of the financial update, shares of Procter & Gamble lost 2.37% in the premarket trading.

Breaking the News / SS