Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
A-Brands

Soap Maker PZ Cussons Says Quarterly Results In Line With Expectations

PZ Cussons Plc said on Wednesday its quarterly results were in line with expectations, even as the soaps and cosmetics maker's prices, volumes and margins in Nigeria remained under pressure.

PZ Cussons said new products and cost cuts helped offset challenging trading conditions in Nigeria for the quarter ended Aug. 31.

Shares of the company were up 1.3% at 232.4 pence in early trading.

Nigeria Slowdown

The company has suffered from a slowdown in its largest Nigeria market, forcing it to warn in July of a challenging year ahead after Africa profits declined sharply in the year to May 31.

In a trading update, the company said consumer disposable income in Nigeria remained subdued ahead of elections in that country.

PZ Cussons, which has a more than 130-year-old history, gets about 36% of its revenue from Africa and also sells home appliances in partnership with Haier.

The company said it was focussing on optimising price points and sizes across the key brands in its Africa portfolio.

Its Nutricima business, which makes milk and yogurt-based beverages, had moved into a breakeven position from making losses last year, PZ Cussons said.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days