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Need help with my writing homework on Procter and Gamble Company Background and History, Financial Ratio. Write a 1750 word paper answering; Procter who was an English Immigrant started making candles in Cincinnati. Gamble, who was an Irish immigrant became his brother in law. They were encouraged .by their father-in-law to do business together which they finally pursued and agreed to a joint venture after some years.
Procter brought with him, his candle-making expertise while Gamble who was an experienced soap-maker offered his services. The company started off by selling candles and soap in the Ohio area. It became more of a family business when Procter’s eldest son went on to become the president of the corporation in 1890. Gamble’s eldest son, inducted the first-ever laboratory in the company’s history giving it its first-ever Ivory soap.
As of 2010, the company is manufacturing and selling 81 different brands. They range from budget and household items for instance detergents and pampers to designer lines, for instance, Dolce and Gabbana and Burberry 5. As of 2009, the company garnered $79 billion in revenue. Of this $13 billion was in net earnings and this gave the company an earning margin of 14.3%. In 2008, the net revenues were 81.7 billion dollars. Procter and Gamble had also been in the news recently for their acquisition of Ambi Pur from the Sar Lee corporation for 320 million Euros.
Procter and Gamble provide consumer packaged goods. Its products are sold in more than 180 countries through mass merchandisers, grocery stores, drug stores, high-frequency stores, neighborhood stores, and membership club stores. These stores different consumers in developing marketings. P & G conduct on-ground operations in approximately 80 countries. As of June 30, 2010, the company had three Global Business Units: Beauty and Grooming, Health and Well Being and Household care. 16% of its total revenue comes from sales to Wal-Mart.
The company takes pride in focusing on strategies that they believe are right for the long-term health of the Company. They plan on increasing their organic sales from 1% to 2% faster than the market growth in categories in which they compete.
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