The Procter & Gamble Co. on Thursday reported that fourth quarter net income declined 80 percent to $521 million, or 18 cents a diluted share, compared with $2.58 billion, or 89 cents a share, in the year-ago period.
Net sales for the three months ended June 30 fell 9.2 percent to $17.79 billion, compared with $19.60 billion. Organic sales grew one percent. Excluding the businesses P&G is exiting, including the beauty brands going to Coty, organic sales gained 2 percent.
By category during the quarter, beauty, hair and personal care sales declined 10 percent to $4.14 billion; grooming sales slid 18 percent to $1.69 billion; health care sales fell 6 percent to $1.71 billion; fabric care and home care was down 7 percent to $5.32 billion, and baby, feminine and family care sales dropped 7 percent to $4.82 billion.