Procter & Gamble reports Q4 gross margin up 380 bps vs. a year ago

Gross margin for the quarter increased 380 basis points versus year ago, 450 basis points on a currency-neutral basis. The increase was driven by 340 basis points of pricing benefit and 290 basis points of productivity savings. These were partially offset by 110 basis points of contract material price increases net of a modest reduction in commodities, 20 basis points of product and package reinvestments and 50 basis points of negative product mix and other impacts. Operating margin for the quarter increased 190 basis points versus the prior year, 310 basis points on a currency-neutral basis.