26 April 2019 - Deborah Wilkes
Procter & Gamble (P&G) said sales at its Personal Health Care business had increased by "double digits" in the three months ended 31 March 2019, following the acquisition of Merck Consumer Health.
Excluding the impact of portfolio and currency changes, the business recorded a "mid-single digits" rise on an organic basis.
Commenting on Personal Health Care's performance in the quarter, P&G said sales growth was due to "innovation-driven volume and price increases across markets".
The US-based company added that sales at the Personal Health Care business had risen in developing markets but remained around the same in developed markets.
P&G completed its EUR3.4 billion (USD3.9 billion) acquisition of the Consumer Health business of Germany's Merck in November 2018 (click here to read the News story).
Performance of Health Care segment
P&G's Health Care segment – which houses the Oral Care business as well as Personal Health Care – generated worldwide sales up by 5% on an organic basis to USD2.12 billion in the three months ended 31 March 2019.
Sales as reported – including the impact of portfolio and currency changes – were up by 9% compared to the same period a year earlier.
Health Care's earnings before income taxes were down by 1% to USD462 million, but net earnings were up by 17% to USD358 million.
The Health Care segment accounted for 12.8% of Procter & Gamble's total worldwide sales, which were up by 5% on an organic basis to USD16.5 billion. Sales as reported were up by 1%.
Chief financial officer Jon Moeller noted P&G's e-commerce sales had grown by more than 20% in the three months ended 31 March 2019.
The three months ended 31 March 2019 was the third quarter of P&G's financial year.
Take out an Annual Subscription to the OTCToolbox website, giving you UNLIMITED ACCESS to all of our publications
* Premium News Stories
* OTCToolbox Innovations magazine NEW IDEAS BETTER WAYS
* OTCToolbox Deals Database
* News Extras
* OTC Deal Trends Briefing
* OTC Company Strategies Report
Helping you and your company make well-informed decisions
CLICK HERE TO FIND OUT MORE