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Sep 012014 Gossip

P & G

PROCTER & GAMBLE has revealed that its net sales slipped 1% in the fourth and final quarter of the year, capping off a challenging year, with the company now set on a major brand portfolio shake up. Net sales for the quarter ending in June came in at $20.16bn, compared to $20.30bn in the same quarter last year, results that show a steandy deterioration in the company revenue performance for each quarter in the fiscal 2013/2014 year. CEO A.G. Lafley said that organic sales growth for the quarter had been 2%, stressing that both currency traslations and a number of minor divestitures has impacted the reported results. Fully year sales were up 1% from $82.58bn, to $83.06bn, a figure that represent an increase of 3% in terms of organic sales, and what that also underlined the challenge the company has had to overcome with respect to currency traslations throughout the year.

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