PROCTER & GAMBLE PROFILE

Procter & Gamble logo

Proctor & Gamble Corporation (PG) is a multinational Fortune 500 corporation with headquarters in Cincinnati, Ohio. Proctor & Gamble’s 2010 revenue was $78.9 billion, with a net income of $12.74 billion. The corporation’s stock price increased during 2010 from $60.63 to $64.33 by year-end. Proctor & Gamble is known primarily for its consumer products division, and is categorized into three Global Business Units: Beauty & Grooming, Household Care, and Health and Well-Being. Two of the company’s longest-running products are Ivory soap, which was introduced in the 1880s, and Crisco shortening, which the company began producing in 1911. Other long-running popular products include Tide (1946), Crest (1955), and Pampers (1961). 23 of the corporation’s products have annual net sales of over $1 billion. The corporation pays a quarterly dividend, which has been paid out for 120 consecutive years and increased for 54 consecutive years.

Proctor & Gamble was formed in Cincinnati in 1837, when immigrants William Proctor and James Gamble became business partners with their wives, and sales had reached $1 million by 1859. The company supplied the Union Army with soap and candles during the Civil War, building a customer base among the soldiers. The company began a profit-sharing program for its employees in 1887, which increased employee loyalty. Proctor & Gamble became an international company in 1930 when it acquired the Thomas Hedley Co., a soap and candle manufacturer based in England. The company then purchased Charmin Paper Mills in 1957 and branched out into paper products. Since then the company has made a number of acquisitions, with the more recently noted Gillette in 2005 helping the gains in PG stock. That same year the pharmaceutical division was involved in a dispute regarding its osteoporosis drug Actonel, and in 2009 the company sold its prescription drug business to Warner Chilcott for $3.1 billion. In 2010 Proctor & Gamble placed 6th in Fortune’s Most Admired Companies list. The corporation currently has manufacturing operations based in the United States, Canada, Mexico, Latin America, Europe, China, Africa, and Australia.


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