21st Nov 2024 11:40
(Alliance News) - PZ Cussons PLC on Thursday hailed favourable trends as revenue is expected to grow comfortably.
The Manchester-based consumer goods firm owns the Cussons, Carex, St Tropez and Imperial Leather brands, among others in the hygiene, baby and beauty categories.
It said trading has been in line with expectations and consistent with its outlook for the current financial year to the end of May 2025.
PZ Cussons cited favourable trends led by growth in the UK, as well as continued pricing in Africa amid an ongoing foreign exchange rates-driven inflation.
While Asia Pacific "declined slightly", PZ Cussons noted continued improvement in Indonesia, which was offset by some category softness in Australia & New Zealand.
The company anticipated 5% like-for-like revenue growth for its financial first half. Its last half-year ended on December 2, 2023.
Further, PZ Cussons said it expects gross debt to be below GBP160 million at the end of this month, down from GBP167 million as at May 31.
The company will release half-year results on February 11.
PZ Cussons shares rose 2.2% to 78.57 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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