During the period under review, operating profit of $184 billion was achieved against a loss of $412,4 billion during the same period last, while operating margins improved to 10% compared to 2%.
Price controls did have a negative effect causing serious product supply shortage in the second quarter. PG did not declare an interim dividend in order to conserve cash. The outlook is still grim for the firm, especially in the face of persistent price controls.
The effect of these controls will have a continuing effect in the second half of the year as the shortages become more and more acute and hence put more pressure on viability.
Sectoral, merchandising turnover rose to $1,7 trillion from$0,467 trillion with operating profit improving to $236 billion from $9,5 billion loss.
Post published in: Economy