The Procter & Gamble Company (NYSE:PG) has reported flat fourth quarter sales but managed to chalk up a 2% increase to fiscal year 2024 results to US$84 billion.

The FMCG giant’s organic sales saw a 4% increase over the year, with higher pricing contributing four points of growth. Siluted EPS for Q4 was $1.27bn, a decrease of 7% on 2023, but the full year was up 2% to $6.02bn.

Core net earnings per share increased by 12% to $6.59. P&G generated an operating cash flow of $19.8 billion and net earnings of $15 billion for the fiscal year. The company returned over $14 billion of value to shareholders in fiscal 2024 via $9.3 billion in dividend payments and $5 billion of share repurchases.

In a statement, Jon Moeller, Chairman of the Board, President and Chief Executive Officer of P&G, described Fiscal year 2024 as another year of strong results for P&G.

“The team met or exceeded our going-in plans for organic sales growth, core EPS growth, cash generation and cash returned to shareowners in a challenging economic and geopolitical environment,” he said. “As we look forward to fiscal 2025, we expect to deliver strong organic sales growth, EPS growth and free cash flow productivity – each in-line with our long-term growth algorithm. We remain committed to our integrated strategy – a focused product portfolio of daily use categories where performance drives brand choice, superiority (of product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption and an agile and accountable organization – all aimed at delivering sustainable, balanced growth and value creation.”

Highlights in the financial report included the beauty segment, which reported organic sales growth of 3% versus a year ago. Skin and Personal Care organic sales were unchanged as growth from increased pricing was offset by lower sales of the super-premium SK-II brand and in Greater China. Hair Care organic sales increased high single digits driven by increased pricing and favorable product mix due to growth of premium products.

The grooming segment’s organic sales increased 7% versus year ago driven by increased pricing primarily in Latin America and volume growth from innovation, while the ealth care segment grew organic sales by 4% year-on-year. Oral Care organic sales increased high single digits due to premium product mix and volume growth in North America and Europe. Personal Health Care organic sales were unchanged as growth, a situation the FMCG giant blamed on pricing and volume increases offset by unfavourable mix due to lower incidence of cough and cold.

Fabric and Home Care segment organic sales also increased 2% versus year ago. Fabric Care organic sales were unchanged as volume growth driven by North America and Europe was offset by lower pricing due to increased promotional spending. Home Care organic sales increased high single digits due to volume growth from innovation and favorable product mix.

Baby, Feminine and Family Care segment organic sales declined 1% versus year ago. Baby Care organic sales decreased mid-single digits due to volume declines from share losses, partially offset by premium product mix. Feminine Care organic sales increased low single digits driven by increased pricing and favorable product mix. Family Care organic sales were unchanged as volume growth was offset by unfavorable product mix.

P&G said it expected fiscal year 2025 all-in sales growth in the range of 2% – 4% versus the prior year, and organic sales growth in the range of 3% -5%.