25th Sep 2013 06:15
LONDON (Alliance News) - Consumer products group PZ Cussons Plc. (PZC.L), in its interim management statement covering the period 1 June 2013 to 24 September 2013, said that the financial performance of the Group during the period has been in line with management expectations. The financial position of the Group remains strong with cash generation during the period also in line with management expectations.
According to the company, In the UK, trading in the washing and bathing division has been robust with new product launches proving successful. In Poland, performance has been strong both in Home Care and Personal Care. Merger control clearance for the sale of the Home Care brands is anticipated shortly. Trading in Greece has been at similar levels to the prior year.
The positive momentum in Indonesia has continued across the babycare and non-babycare ranges, although further weakening of the rupiah is impacting results. Similarly in Australia, whilst performance in Home Care and Personal Care has been robust, the weakening of the Australian dollar is also impacting results, the company noted.
Simon Heale, who has served on the board as a non-executive director since January 2008, has indicated his intention to retire with effect from the expiry of his current three year term of office on 31 December 2013.
"Whilst the trading environment in most markets remains challenging, brand renovation and innovation is driving organic growth across the Group, enhanced by the acquisition of Rafferty's Garden. Margin improvement projects also continue in all markets whilst raw material costs remain broadly flat," the company said.
The company noted that it will announce a further trading update on 11 December 2013.
Copyright RTT News/dpa-AFX
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