Breaking News

P&G Is Designed to Grow, Lafley Tells Shareholders

November 2, 2007

Chairman of the board and chief executive officer, A.G. Lafley, updated Procter & Gamble shareholders at the annual meeting on Oct. 9. Mr. Lafley said, “P&G is a company designed to grow for the short, mid and long term—consistently, reliably and sustainably”

He reminded the audience that at the 2001 annual meeting he promise to keep the company focused on serving consumers. Since then, the company has recorded strong growth and achieved several objectives. For example:

• Annual sales have nearly doubled from $39 billion to $76 billion.

• The number of brands with more than a billion dollars in annual sales has more than doubled to a total of 23 brands.

• The number of brands with annual sales between $500 million and $1 billion has more than quadrupled to a total of 18 brands.

• The number of retail customers that do a billion dollars or more in annual sales with P&G has jumped from two to seven.

• The company has generated $43 billion in net earnings and $50 billion in free cash flow.

• P&G’s market capitalization increased to more than $200 billion, making P&G the seventh most valuable company in the U.S. and the 13th most valuable in the world.

In the recently concluded fiscal year, P&G increased net sales by 12% to more than $76 billion, while organic sales increased 5%—in the middle of the company’s long-term target range. Growth came from a broad mix of businesses, including fabric and home care, beauty, health, baby and family care. North America was strong with volume growth in mid-single digits.

Looking ahead, Mr. Lafley told the audience that P&G will reach one billion more consumers by the end of the decade. Beauty is expected to help spearhead that growth, as P&G stays focused on high-margin businesses.
blog comments powered by Disqus
  • Patent Update

    Patent Update

    June 30, 2016
    J&J's anti-aging patent, LVMH and cannabis essential oil, transdermal botulinum toxins and more in recent patent news.

  • Start Stuffing The Ballot Box (Again)!

    Start Stuffing The Ballot Box (Again)!

    June 28, 2016
    Vote on the finalists in Happi's reader's choice Anti-Aging Product of the Year contest!

  • What

    What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 27, 2016
    Euromonitor weighs in on how Brexit could impact consumer product companies.

  • Sustainability is Omnipresent

    Sustainability is Omnipresent

    Christine Esposito , Associate Editor||July 1, 2016
    Industry stakeholders convene in New York City for Organic Monitor’s annual event

  • Perceived Perfection

    Perceived Perfection

    Christine Esposito, Associate Editor||July 1, 2016
    From primers to pressed powders, facial cosmetics help create the illusion of a flawless complexion.

  • Preserve & Serve

    Preserve & Serve

    Melissa Meisel , Associate Editor||July 1, 2016
    Suppliers with innovative preservatives provide staying power for formulations.