Procter & Gamble (P&G) reported net sales of $80.2 billion in its fiscal year, an increase of 5% versus the prior year. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 7%.
The company’s growth was broad-based driven by a 2% increase in organic volume, a 4% increase due to higher pricing and a 1% increase from positive mix. “Fiscal 2022 was another strong year,” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer.
In addition, all the multinational’s business lines recorded annual increases in sales. For example, baby, Feminine and Family Care segment net sales had an increase of 5%, totaling US$ 19,736 million.
Despite the positive results, Jon Moeller expects the sector to continue to face obstacles. “The P&G team’s execution of our integrated strategies delivered strong top-line growth, earnings growth, and significant cash return to shareowners in the face of severe cost and operational headwinds. As we look forward to fiscal 2023, we expect another year of significant headwinds.”
Net earnings were $3.05 billion in the fourth fiscal quarter of 2022, a decrease of 4.6% versus the prior year. The company reported fiscal year 2022 fourth quarter net sales of $19.5 billion, an increase of 3% versus the prior year.