The strong dollar, more expensive raw materials and transport costs will make the US group worse off in the new fiscal year, he expects. However, there is still an increase in sales.
The US consumer goods group Procter & Gamble expects considerable headwinds for the new financial year. The company expects burdens from the strong dollar and the high raw material and freight costs, Procter & Gamble announced on Friday in Cincinnati.
Organic growth is likely to weaken in 2022/23 (as of the end of June). The consumer goods giant expects sales to increase by three to five percent, after an increase of seven percent to USD 80.2 billion (EUR 78.6 billion) in the previous year.
The high costs and the strong dollar should burden Procter & Gamble with 3.3 billion dollars after taxes, especially in the first half of the year, it said. Procter & Gamble plans to pay more than $9 billion in dividends for the fiscal year and buy back $6 billion to $8 billion in stock.
In the fourth quarter, sales rose 3 percent to $19.5 billion. Overall, the group drove a net profit of almost $ 3.1 billion with well-known brands such as Ariel detergent, Pampers diapers or Braun razors, five percent more than a year earlier.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
