P&G Profits Jump on Seven-Year Sales Surge Record

30 October 2002

Procter & Gamble posted its biggest quarterly sales leap since 1995 in its fiscal Q1, according to results issued Tuesday.

The consumer goods colossus reported net income of $1.46 billion (€1.49bn; £0.94bn) in the three months to September, up by one-third from $1.1bn last year, apparently vindicating ceo AG Lafley’s business plan to focus on core brands.

Net sales jumped 11% year-on-year to $10.8bn, while unit volume surged 13%. The latter growth was partly driven by the acquisition of Clairol last year; excluding this, unit volume increased 10%.

The rise in revenues was helped by a 27% jump in sales at its beauty care unit (including Clairol) and a 19% surge at its healthcare division.

Data sourced from: Financial Times; additional content by WARC staff