P&G Rubs Unilever's Nose in It

06 August 2007

CINCINNATTI: Procter & Gamble, the planet's largest advertiser has delivered a sparkling second-quarter performance - increasing profits for the period by 19% - in stark contrast with the tribulations of its main rival Unilever.

Net income for the three months to June 30 rose 19% year-on-year to $2.27 billion (€1.65bn; £1.11bn). And the performance owed nothing to exceptional or one-off gains.

Sales across the board increased by 8% with organic growth in each of the titan's main product groups: blades & razors. fabric & homecare and beauty and healthcare.

P&G's feat adds to the humiliation of its global competitor Unilever, which last week announced its intention to sell its US laundry products business, plus the axing of 20,000 jobs phased over the next four years.

P&G chairman/ceo Alan G Lafley (pictured above) was in celebratory mode: "This marks the sixth consecutive year in which P&G delivered top-line growth at or above the company's targets.

"These results were achieved at the same time the organisation was integrating Gillette, which is progressing ahead of plan."

Data sourced from mad.co.uk; additional content by WARC staff