P&G announces FY26 and 26Q2 natural quarter results: revenue growth at a 5-year high, profit side continues to be under pressure

English summary

· The company announced FY26 (25Q3-26Q2) results. FY26 P&G net sales were 588.893 billion yuan, up 3% YoY, with comparable growth of 1%; net profit was 109.237 billion yuan, roughly flat YoY. Looking at the past five years, except for a slight negative growth in net profit in FY2023, the Group maintained positive or flat sales and profit growth in most fiscal years, with FY26 revenue growth leading the past five years. By quarter, natural quarter 26Q2 net sales were 143.468 billion yuan, up 2% YoY; net profit was 20.847 billion yuan, down sharply 15% YoY. Overall showing a trend of increasing revenue but not profit. By segment, in FY26, the Beauty segment net sales were 108.418 billion yuan, +7% YoY, ranking first in growth among the five segments, setting a new five-year high, but net profit was 18.079 billion yuan, -2% YoY. The trend of strong beauty sales but persistent profit pressure has continued for many years. ...