Procter & Gamble (P&G) is the behemoth of US-based personal, health and household care companies, even after the sell-off of 43 brands to Coty in 2015 for US$12.5 billion.
The multinational has reported a four per cent rise in Q4 sales to US$17.7 billion, in spite of the COVID-19 crisis.
A healthy fourth quarter that lifted total sales for fiscal 2020 to US$71 billion – a rise of five per cent.
Beauty and personal care sales reached US$13.35 billion for the full year, increasing 4 per cent year-on-year.
The hotspot for P&G was personal cleansing – face, body and anti-bacterial handcare.
Haircare sales of key brands, including Pantene Head & Shoulders and Herbal Essences, increased by high single digits, driven by strong demand in the US and China.
Sales of luxury skincare brand, SK-II, normally a strong performer for P&G, suffered a double-digit decline in Q4, largely due to the slump in travel retail.
Overall grooming sales grew five percent by contrast to a year ago. But shave care revenues, including Gillette, dropped by mid-single digits due to the reduction in the need to shave daily during COVID-19 lockdowns in major markets.
Home care organic sales surged by more than 30 per cent, as consumers upped their hygiene routines around the house. Baby, feminine and family care sales were also up 5 per cent.
We expect to grow through this crisis and come out even stronger on the other side, said David Taylor, P&G’s chairman, president and CEO.
“We delivered strong, balanced sales and profit results in fiscal 2020, both pre-COVID and through the balance of the year, meeting and exceeding each of our going-in targets, demonstrating the commitment and agility of P&G people and the robustness of our strategy”.
The company expects overall sales growth for fiscal 2021 to range from two to four per cent.
