PZ Cussons confident of growth

PZ Cussons said trading in most of its markets was challenging, but that it was confident of a return to profitable growth in the current financial year.

PZ Cussons said trading in most of its markets was challenging, but that it was confident of a return to profitable growth in the current financial year.

In a trading update the Imperial Leather soap maker said performance for the first half of the year had been in line with management expectations.

Revenue was broadly flat, mainly as a result of difficult trading conditions in its key market Nigeria, which has been affected by social unrest as well as widespread flooding.

However, the firm said profits had increased by around 10% compared to the year before.

This was driven in particular by an improvement in the profitability of its Australian business and a robust performance in the UK.

"The group's focus remains on new product development and further margin improvement," the statement said.

"Raw material cost trends are expected to be favourable this year and the benefits of the supply chain optimisation project are also beginning to be seen."

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021