Skincare and haircare fired on all cylinders for Procter & Gamble (P&G) during its Q3 2021.
Overall net sales rose 5 per cent, by contrast to the same period in 2020, to US$18.1 billion.
Haircare organic sales, led by Head & Shoulders, Pantene and Herbal Essences, jumped in high single digits, especially in mainland China.
As countries eased out of lockdown, the grooming and shaving category powered by Gillette rose 4 per cent over Q3 2020.
There has been a strong focus on oral care over the past year and P&G’s share of the pie increased 3 per cent through major brands like Oral-B.
We maintained another quarter of solid top-line, bottom-line and cash results in what continues to be a challenging operating environment, noted David Taylor, chairman, president and CEO of P&G.
“We remain focused on executing our strategies of superiority, productivity, constructive disruption and improvising P&G’s organisation and culture. These strategies enabled us to build strong business momentum before the Covid crisis and accelerate our progress during the crisis, and they remain the right strategies to deliver balanced growth and value creation over the long term.”
Buoyed by the Q3 results, P&G confirmed its annual growth forecast of 5 to 6 per cent for fiscal 2021.