The Procter & Gamble Company said sales rose 12% to $76.5 billion for the year ended June 30. Sales rose 9% on volume growth, including the impact of an additional three months of Gillette in fiscal 2007. Growth was driven by initiative activity such as Gillette Fusion, Pantene brand restage, Olay Definity and Regenerist, Dolce & Gabbana The One fragrance, Always Clean, Tide Simple Pleasures, Gain Joyful Expressions, Swiffer upgrade and Pampers Caterpillar Flex. Price increases added 1% to net sales and favorable foreign exchange contributed 2%. Organic sales were up 5% with each reportable segment delivering year-on-year growth. Net earnings for the year rose 19% to $10.3 billion.
Sales of beauty care products rose 9% to $23 billion behind a 5% volume increase. The company said volume was up in nearly every category. Net earnings increased 12% to $3.5 billion.
Fabric care and home care sales increased 11% in fiscal 2007 to $19 billion behind 8% volume growth. Volume growth was broad-based across regions with mid-single digit increases in developed regions and double-digit growth in developing regions. Net earnings increased 18% to $2.8 billion. In the fourth quarter, corporate sales rose 8% to $19.3 billion. Beauty care sales rose 8% to $5.9 billion. Fabric and home care sales rose 10% to $4.8 billion.
In other financial news, P&G announced that it will repurchase $24-$30 billion of company shares during the next three years at a rate of $8-$10 billion per year.