One-upmanship costs Tide, Pantene and Olay skincare maker P&;G dear, posts biggest ever loss - The Economic Times: "MUMBAI: The Indian unit of Procter & Gamble posted its biggest-ever loss last year that wiped off all the profit made in the past six years, recent regulatory filings by the unlisted company reveal.
P&G Home Products recorded 333.5-crore losses in the yePanar ended March 2011 after spending more than one-third of its revenues on marketing and advertising, reflecting the true scale of the world's largest consumer goods maker's efforts to establish itself in India.
Being an unlisted company, P&G's largest arm does not publish its results and has nine months to file annual statements with the Registrar of Companies (RoC). The 2010-11 results were filed on December 24.
The maker of Tide detergent, Pantene shampoo andOlay skincare range slipped into the red despite a 31% growth in sales, mainly because of its aggressive drive to take on market leader Hindustan Unilever (HUL) by investing heavily in manufacturing, distribution and advertising.
P&G SAYS IT'S IN LINE WITH LONG-TERM STRATEGY
P&G Home Products recorded 333.5-crore losses in the yePanar ended March 2011 after spending more than one-third of its revenues on marketing and advertising, reflecting the true scale of the world's largest consumer goods maker's efforts to establish itself in India.
Being an unlisted company, P&G's largest arm does not publish its results and has nine months to file annual statements with the Registrar of Companies (RoC). The 2010-11 results were filed on December 24.
The maker of Tide detergent, Pantene shampoo andOlay skincare range slipped into the red despite a 31% growth in sales, mainly because of its aggressive drive to take on market leader Hindustan Unilever (HUL) by investing heavily in manufacturing, distribution and advertising.
P&G SAYS IT'S IN LINE WITH LONG-TERM STRATEGY
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