The consumer products giant also enjoyed a pickup in sales of hair care products in China, where performance was especially weak in the year-ago period due to pandemic-related shutdowns. “We delivered another quarter of solid top-line, bottom-line and cash results in what continues to be a challenging operating environment,” said David Taylor, P&G’s chief executive. Greater focus on strong product development and execution “enabled us to build strong business momentum before the Covid-19 crisis and accelerate our progress during the crisis,” Taylor said. Net income in P&G’s fiscal third quarter was $3.3 billion, up 12 percent from the year-ago period, while revenues rose 5 percent to $18.1 billion. Shares gained 0.8 percent to $137.75 at the close on Wall Street, erasing losses seen after trading began.

Source: Manila Times April 21, 2021 16:07 UTC