CINCINNATI Procter & Gamble chairman and chief executive officer A.G. Lafley reassured uneasy shareholders at its annual shareholder meeting on Oct. 14 that the company’s business was steady.
“While the economic environment remains volatile and uncertain, I am confident that P&G can and will continue to prosper over the long term,” Lafley said.
According to published reports, Lafley cited P&G’s record of years of steady earnings and sales growth, and explained that P&G has been boosting productivity, controlling costs and adding innovations to its broad product portfolio. The portfolio includes 24 brands with annual sales of $1 billion or more and 20 others with sales between $500 million and $1 billion.
They are brands that, according to Lafley, “are built to growth through any economic cycle.”
Echoing that sentiment, Morgan Stanley analyst William Pecoriello stated earlier in October in a research note, “Our recent meeting with management confirms our view that P&G should remain a safe haven during the key macro uncertainties ahead.”
P&G is scheduled to release quarterly earnings on Oct. 29.