Procter & Gamble (P&G) reported steady sales and earnings growth for the first quarter of the new fiscal year, supported by price increases and product mix improvements across several categories.

For the quarter ending September, the company recorded net sales of $22.4 billion, up 3 per cent year on year. Organic sales, which exclude currency and portfolio changes, rose 2 per cent, driven by a 1 per cent gain in pricing and a 1 per cent improvement in mix.

Meanwhile, net earnings reached $4.8 billion, which chairman Jon Moeller says is the reflection of continued execution of the company’s strategy. 

“We remain on track to deliver within our guidance ranges on all key financial metrics despite a challenging consumer and geopolitical environment.”

By segment, beauty posted 6 per cent organic growth, supported by higher skincare and personal care sales. Grooming increased 3 per cent, while health care rose 1 per cent. Fabric and home care and baby, feminine and family care were flat year over year.

The company maintained its full-year sales growth outlook of 1 per cent to 5 per cent, expecting a modest benefit from currency. P&G also projected a $100 million headwind from higher commodity costs and $400 million in additional tariff costs for the year.

“We remain focused on our integrated growth strategy across daily-use categories where performance drives brand choice,” Moeller concluded.