×
967
Fashion Jobs
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Khandala
Permanent · Lonavala
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Vadodara
Permanent · Vadodara
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Bharuch
Permanent · Bharuch
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Nasik
Permanent · Nashik
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gangtok
Permanent · Gangtok
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gondal
Permanent · Gondal
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Rajsamand
Permanent · Rajsamand
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Patna
Permanent · Patna
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Kolhapur
Permanent · Kolhapur
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Vapi
Permanent · Vapi
PAPERGRID INDUSTRIES
Area Manager (Sales)
Permanent · Chennai
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Bhavnagar
Permanent · Bhavnagar
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Osian
Permanent · Osian
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gaya
Permanent · Gaya
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Igatpuri
Permanent · Igatpuri
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Ramgarh
Permanent · Ramgarh Cantonment
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Puri
Permanent · Puri
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Kota
Permanent · Kota
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Veraval
Permanent · Veraval
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Bhuj
Permanent · Bhuj
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Palanpur
Permanent · Palanpur
LAVYA ASSOCIATES
Area Sales Manager-Direct- Life Insurance-Gorakhpur
Permanent · Gorakhpur
By
Reuters
Published
Jul 30, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Procter & Gamble sales fall for sixth straight quarter

By
Reuters
Published
Jul 30, 2015

Procter & Gamble Co, the world's largest consumer products maker, reported its sixth straight fall in quarterly sales, as the stronger dollar continued to weigh on the value of sales from overseas markets.

P&G also said it expected sales to fall in the low-to-mid single digits next year due to the strong dollar.

Pantene is part of the P&G family - P&G


The company said on Tuesday that David Taylor would replace A.G. Lafley as chief executive in November, as it looks to reverse the trend of falling sales.

P&G has sold off about 50 brands since 2014 in an attempt to streamline its portfolio and focus on faster-growing product lines.

The latest round of divestitures comprised 43 brands, including Wella and Clairol hair care products, which P&G sold to perfume maker Coty Inc for $12.50 billion this month.

Revenue fell 9.2 percent to $17.79 billion in the fourth quarter ended June 30 from a year earlier, as the company recorded a 9 percentage point hit from the strong dollar.

Analysts on average were expecting revenue of $17.98 billion, according to Thomson Reuters I/B/E/S.

The currency has risen about 20 percent in the 12 months through June 30, reducing the value of overseas sales when they are translated back into dollar terms.

P&G, which gets roughly two-thirds of its revenue from international markets, has been raising prices to offset the impact of the dollar, but customers have been turning to cheaper local alternatives as a result.

Peer Colgate-Palmolive Co reported its fourth straight quarter of falling sales on Thursday and said the strong dollar was the main reason for the decline.

Net income attributable to P&G fell 80 percent to $521 million, or 18 cents per share in the fourth quarter, the company said.

P&G recorded a $2.03 billion charge in the quarter for a change in the accounting method of its Venezuelan operations, reflecting its inability to convert currency or pay dividends.

Excluding items P&G earned a profit of $1 per share, beating the average analyst estimate of a profit of 95 cents.

 

© Thomson Reuters 2022 All rights reserved.