PZ Cussons sees H1 sales growth of 5% as trading in line

PZ Cussons

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1.95%

1.50p

Personal healthcare product maker PZ Cussons on Thursday said it expected first-half like-for-like revenue growth of 5%, with trading in line with expectations since its annual results in September.

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In a trading update ahead of its annual shareholder meeting, the maker of Imperial Leather soaps and Carex hand gels cited a continuation of favourable first-quarter trends led by growth in the UK and continued pricing in Africa given further forex-driven inflation.

Asia-Pacific declined slightly, with continued improvement in Indonesia offset by some category softness in Australia and New Zealand.

Gross debt is expected to be less than £160m at the end of November 2024, compared to £167m at the end of last May.

Cussons said it was also taking action to reduce the impact of currency volatility in relation to intercompany loans to Nigeria.

“The group is progressing with the sale of St.Tropez and discussions with interested parties which could lead to the partial or full sale of its African business. Further updates will be provided in due course,” it added.

Reporting by Frank Prenesti for Sharecast.com