1st Feb 2017 11:57
LONDON (Alliance News) - FTSE 250-listed PZ Cussons PLC Wednesday said Chairman Caroline Silver bought 10,000 shares at a price of 304.671 pence per share on Tuesday.
Following this transaction, Silver holds 20,000 shares.
Last week PZ Cussons reported a fall in profit in the first half of its financial year as it continues to suffer from tough trading conditions in Africa, but said full-year trading will meet expectations as it plans to launch new products in the second half.
The personal care and home products maker said pretax profit in the six months ended November 30 fell to GBP24.9 million from GBP40.0 million the year before, as revenue decreased to GBP378.2 million from GBP385.9 million and it booked an exceptional cost of GBP15.3 million relating to foreign exchange losses in Nigeria following the devaluation of the naira.
PZ Cussons' problems in Nigeria stem from low oil prices which have contributed to an environment of reduced personal income for consumers in the country and the resulting pressure on the country's currency.
The stock was up 0.1% at 304.80p Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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