annual sales with P&G has jumped from two to seven.
* $43 billion in net earnings and $50 billion in free cash flow has been
* P&G's market capitalization increased to more than $200 billion, making
P&G the seventh most valuable company in the United States and the 13th
most valuable in the world.
Meeting The Future Growth Challenge
"Every year, the growth challenge becomes more demanding, and the year ahead is no exception," said Lafley. "But, I'm confident that we'll continue to grow at or ahead of our long-term goals because we have made choices that create opportunities for growth." Lafley discussed the choices that are driving P&G's growth:
* A balanced portfolio that is considerably stronger and better balanced
today, consisting of 22 product categories with a mix of fast-growing
and strong cash-generating businesses.
* A sharper focus on and smarter investment in the company's five core
strengths: consumer understanding, branding, innovation, go-to-market
capability and scale. For example, in the area of innovation, P&G has
increased its success rate on new innovations by 40 percentage points in
the past five years, and the innovation pipeline has delivered 6 percent
organic sales growth since the beginning of the decade. In the area of
consumer research, P&G has invested more than a billion dollars since
the beginning of the decade, involving more than four million consumers
* Strategic, financial and operational discipline. An example is the
integration of Gillette. P&G added more than 50,000 new product codes,
100,000 new shipping points and nearly 30,000 employees into its systems
with the acquisition of Gillette. The integration teams virtually
completed their work one year ahead of schedule.
* The most diver
|SOURCE The Procter & Gamble Company|
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