The maker of Olay skincare and Pantene haircare has reported net sales of US$19.7 billion for its second quarter 2021 – an increase of 8 per cent by contrast to the same period last year.

The beauty division, including Olay and prestige brand SK-II, achieved revenues of US$3.8 billion – an upsurge of 5 per cent over the past 12 months.

Skincare and personal care organic sales jumped in the mid-single digits, propelled by innovation, increased pricing and the impact of new launches from Olay and key soap brands.

Haircare organic sales, led by power brands Pantene, Head & Shoulders and Herbal Essences, also enjoyed sales gains in the mid-single digits. Strong demand in mainland China and retail execution were major movers of the dial.

The healthcare division, including Oral-B and Vick’s products, reported organic sales growth of 9 per cent. The multinational’s grooming appliance revenues jumped 20 per cent, as consumers sought out at-home styling and grooming products.

P&G’s grooming, baby, feminine and facial care division followed suit with a 6 per cent rise in organic sales.

The personal care titan has raised its estimate for fiscal growth in 2021 from 3 to 4 per cent to 5 to 6 per cent following the Q2 performance.

We delivered another strong quarter of results across all key measures – top line, bottom line and cash, said David Taylor, chairman, president and CEO of Procter & Gamble.

“We remain focused on executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organisation and culture. These strategies enabled us to build strong business momentum before the Covid-19 crisis, accelerated our progress in calendar year 2020 and remain the right strategies to deliver balanced growth and value creation over the long term.”

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