Beijing News Shell Finance News (Reporter Yu Menger) On January 24th, a reporter from Beijing News Shell Finance noticed that Procter&Gamble Group announced its second quarter performance report for the fiscal year 2024 as of December 31, 2023. The financial report shows that the group's net sales in the second quarter increased by 3% compared to the same period last year, reaching 21.44 billion US dollars. Excluding the impact of foreign exchange, acquisitions, and asset divestitures, organic sales increased by 4% year-on-year.
Specifically, in terms of business departments, the group's beauty and skincare department had a net sales revenue of $3.849 billion in the second quarter. Although the sales and revenue of skincare brand SK-II were not satisfactory, the higher pricing of the brand offset some of the negative impact.
During the period, the organic sales revenue of the health care business increased by 2% compared to the same period last year, with a net sales revenue of $3.172 billion. Procter&Gamble stated that its organic sales in its oral care business increased by a medium single digit, mainly due to improved pricing and a high-quality product portfolio, but some of the growth was offset by declining sales in Latin America and Asia. In addition, the organic sales of the beauty and hairdressing department increased by 9% compared to the same period last year, with a net sales of $1.734 billion, mainly due to higher pricing, high-quality product portfolio, and sales growth.
Based on this, Procter&Gamble Group has released performance guidance for the fiscal year 2024. Compared to the fiscal year 2023, it is expected that sales in the fiscal year 2024 will increase by 2% to 4%, and organic sales will increase by 4% to 5%. However, Procter&Gamble expects that foreign exchange fluctuations will have an adverse impact on total sales growth of one to two percentage points.