P&G profit rises by 44% in Q4 2012

Consumer and personal care products offering firm Procter & Gamble (P&G) has reported a 44% increase in profit to $3.67bn for the fourth quarter ended 30 June 2012, up from $2.53bn during the same quarter in 2011.

The firm posted revenue of $20.21bn for the current quarter as against $20.45bn in the corresponding quarter of the previous year.

P&G’s operating income for the fourth quarter decreased to $3.06bn, compared to $3.17bn in second quarter of 2011.

Procter & Gamble chairman, president and chief executive officer Bob McDonald said the firm is entering into fiscal 2013 with strong developing market momentum, fortified plans on its core business, and with the benefit of a $10bn cost savings programme.

"Despite a difficult macro environment, we see significant opportunities for top- and bottom-line growth," said McDonald.

The firm’s beauty care segment net sales declined 4% to $4.8bn, while the organic sales rose 1% and the unit volume was down by 1%.

Grooming division reported a decrease in net sales of 6% to $2bn , whereas the unit volume and organic sales were in line with that of the prior year period.

Baby Care and Family Care net sales rose 1% to $4.1bn on unit volume growth of 1% and the organic sales increased 5%.

Procter & Gamble (P&G) is an American multinational consumer goods company headquartered in Cincinnati, which operates in personal care, cleaning agents, foods and beverages segments.