PZ Cussons Says Profits Flat In First Half
Personal care firm PZ Cussons, which owns the Carex and Imperial Leather brands among others, has said that its first half performance 'has been in line with expectations, with profits broadly flat versus the comparative period.'
In Europe, new product launches under the Imperial Leather, Carex and Original Source brands in the UK has delivered a 'robust' performance, however a poor summer impacted sales of its St Tropez brand.
It said that performance in its smaller markets of Poland and Greece was 'in line with expectations'.
Commenting on the group's performance, Clive Black of Shore Capital Stockbrokers said, "The group is highly innovative and we believe that its brands and market positions continue to make it a highly valuable organisation, with strong foundations, including a good balance sheet, for long-term growth.
"That said there is no doubt that the currently somewhat volatile and unpredictable world is throwing up challenges as well as opportunities, the former reflected in today's update."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.