Summary by Futu AI
Procter & Gamble has released its annual report for the Procter & Gamble Ireland Employees Share Ownership Plan (ESOP) for the fiscal year ended June 30, 2024. The report, audited by Deloitte LLP, confirms that the financial statements present fairly the net assets available for plan benefits as of June 30, 2024, and 2023, and the changes in net assets for the three years ending on June 30, 2024. The ESOP's net assets available for benefits decreased from €2,385,315 in 2023 to €1,776,889 in 2024. The Plan experienced a net decrease in assets due to distributions and withdrawals to participants exceeding additions from contributions and investment income. The Plan's investments are solely in Procter & Gamble common stock, which saw a net appreciation in value and realized gains on investments sold during the year. The Plan is administered by Mercer Limited and is designed to allow eligible Irish employees to purchase company shares tax-efficiently. The Plan's financial statements have been prepared in accordance with U.S. GAAP and are expressed in Euros, the Plan's functional currency.