Procter and Gamble’s decision to offload 40 per cent of its agency in a major cost-cutting drive last year seems to be paying off as the owner of Gillette and Pantene reported a 35 percent jump in second-quarter profit.
The FMCG business made the cull in 2015 as part of a wider cost saving mission to focus more on its profitable brands and to do more for less with its marketing.
Speaking today on a call with analysts P&G’s chief financial officer Jon Moeller said that the company saved $370m in agency related costs and expects to save an additional Read full story ›
Source: The Drum
Industry News