THE WHAT? Procter & Gamble has reported its results for the second quarter of fiscal 2024. The US-based FMCG manufacturer saw net sales rise 3 percent versus the prior year to US$21.4 billion. Organic sales increased 4 percent.

THE DETAILS Diluted earnings per share dropped 12 percent primarily due to a non-cash impairment of the carrying value of the Gillette intangible asset.

In terms of the performance of individual categories, beauty net sales inched up 1 percent while grooming put on 6 percent. Health care saw sales swell 4 percent while fabric and home care jumped 5 percent and baby, feminine & family care rose 2 percent.

THE WHY? Jon Moeller, Chairman of the Board, President and Chief Executive Officer, explains, “We remain committed to our integrated strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority — across product performance, packaging, brand communication, retail execution and consumer and customer value — productivity, constructive disruption and an agile and accountable organization. The P&G team’s execution of this strategy has enabled us to build and sustain strong momentum. We have confidence this remains the right strategy to deliver balanced growth and value creation.”