CINCINNATI, Oct. 9, 2007 /PRNewswire-FirstCall/ -- Chairman of the Board and Chief Executive Officer, A.G. Lafley, addressed The Procter & Gamble Company (NYSE: PG) shareholders at its annual meeting today. Lafley said, "P&G is a company designed to grow for the short, mid and long term -- consistently, reliably and sustainably."
Growth in Fiscal 2007
Lafley reviewed the company's results for fiscal 2007. P&G increased net sales by 12 percent to more than $76 billion; organic sales increased 5 percent -- in the middle of the company's long-term target range. Earnings per share increased 15 percent to $3.04. Free cash flow was $10.5 billion, or 101 percent of net earnings -- well above the company's 90 percent goal. Growth came from a broad mix of businesses, including Fabric and Home Care, Blades and Razors, Beauty, Health, Baby, and Family Care. North America was strong with volume growth in mid-single digits. Developing markets grew double-digits.
P&G will issue its first quarter results for the 2008 fiscal (the July- August-September quarter) on October 30.
Consistent Growth Over Time
Lafley also reminded shareholders that at the 2001 annual meeting he promised to keep the company focused on its core purpose of serving consumers. That focus has generated strong results for P&G over the past six years:
* 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 which
|SOURCE The Procter & Gamble Company|
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