PZ Cussons Sees Handwash Demand Boom As Beauty Business Fades
Britain's PZ Cussons is seeing "exceptionally high" demand for its Carex hand wash, sanitiser gels and Imperial Leather soap due to the coronavirus pandemic, the company has said, while flagging a slowdown in its beauty business.
The company, which recently tapped Avon Products executive Jonathan Myers as its top boss, also said its full-year profit forecast was at the lower end of the consensus range.
It forecast a slow recovery in the beauty unit as retailers are now stocking up hygiene and personal care products rather than cosmetics.
Overall revenue in the third quarter ended February 29 fell year-on-year, it said, adding that the impact of the coronavirus and the restrictions imposed to prevent its spread remained significant.
PZ Cussons' key manufacturing sites around the world remain open, despite the restrictions, it said.