10th Dec 2015 07:56
LONDON (Alliance News) - Consumer products company PZ Cussons PLC on Thursday said trading in the half to the end of November was broadly flat, as a strong performance in its European business offsets more difficult conditions in Nigeria and currency challenges in Asia and across Africa.
The FTSE 250-listed company, which makes the Carex and Imperial Leather brands, said it has managed to hold on to market share due to product launches, but said its performance in certain product categories in Nigeria is likely to be affected by the ongoing squeeze on consumer disposable income in the country.
The group's business in the UK was strong, driven by new product launches for Carex and its St Tropez tanning lotion, while its performance in Poland and Greece also met expectations.
Trading in Asia was hit by economic challenges in the region, which have weakened consumer sentiment, though sales in Australia were boosted by robust trading for its personal care, beauty and food and nutrition brands.
Its Nigerian business, however, has been hit by a decline in consumer disposable income and on the additional foreign exchange restrictions placed on imported goods.
By Sam Unsted; [email protected]; @SamUAtAlliance
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