Procter & Gamble shares rose on the back of the news that it will cut up to 100 brands from its roster as part of an efficiency drive by CEO AG Lafley.
The strategy is to focus on fewer, bigger, more profitable brands such as Gillette and Tide.
In its full year earnings announcement last week, Lafley revealed that the company would divest or merge around 100 of its brands globally, but said the affected brands account for just 10% of sales.
It will focus its R&D and marketing investment on the remaining 80 brands, which account for 90% of sales and around 95% of profit.
The shift will impact a number of agency's globally and locally, but P&G didn't provide any local information and it's not yet clear which brands are for the chop.
The company's stock has been stable, but not moved much in the year since Lafley returned as CEO following the exit of his predecessor Bob McDonald following a period of lacklustre performance from the global FMCG firm. On the back of the news it was shedding brands, stock rose around 3% on Friday.
The company said sales for the year reached $83.1 billion a 1% rise year on year.
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