'Very Disappointing' Performance In Africa Impacts PZ Cussons In FY
Personal care giant PZ Cussons has said that a 'very disappointing' performance in its Africa division has impacted its full-year performance, with the business seeing a 2.6% decline in revenue at constant currency levels.
The business, which produces brands such as Carex and Imperial Leather, posted sales of £689.4 million (€766.1 million) for the full year to 31 May, which was down from £739.8 million the previous year.
Adjusted operating profit was down 9.7% to £76.5 million (€85 million), while the business saw an improvement in net debt, to £152.2 million, due to a 'stronger focus' on cash management, it said.
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