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Final Results for the year ended 31 May 2017

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Click here to read the full statement.

Highlights

Group

•    Solid performance with profit before tax slightly ahead of the prior year despite a challenging macro environment particularly in the Group’s largest market of Nigeria
•    Brand shares maintained or growing in all the Group’s major markets and categories
•    Successful on time completion of three year project to implement SAP in all markets
•    Strong balance sheet with net debt at 1.1 x EBITDA
•    Dividend increased 2.1% marking 44th consecutive year of year on year increases

Africa
•    All businesses in Nigeria traded relatively well despite significant year-on-year currency devaluation and lack of liquidity
•    Group’s diverse brand portfolio working well with product offerings at all price points catering for a consumer under significant inflationary pressure 

Asia
•    Strong second half performance in Asia driven by continued improvement of results in Australia 
•    A further year of good growth momentum in Indonesia with new product launches performing well 

Europe
•    Robust performance in UK washing and bathing division underpinned by product renovation and despite competitive market conditions
•    Significant innovation within Beauty division including the launch of a new range of products targeting millennials under the Being by Sanctuary sub-brand

 

Commenting today, Caroline Silver (Chair) said:

“The Group has delivered a solid set of results with profits slightly ahead of the previous year. This is despite a significant year-on-year currency devaluation in the Group’s largest market Nigeria and general tough trading conditions in most of the markets in which we operate.

Our strategy of ongoing brand innovation and renovation continues to underpin the Group’s ability to maintain or grow our market shares. 

During the year we completed a number of significant launches including a refresh of the Group’s largest brand Imperial Leather, a relaunch of the Cussons Kids range in Indonesia and the launch of a new range of products within the Beauty division specifically targeting the millennial consumer.

In Nigeria, our experience and flexibility to ensure our products are sold in the right sizes and at the right price points has enabled us to deliver a creditable result against the backdrop of a weaker currency and poor liquidity. 

The successful completion of the three year project to implement a standard SAP solution across the Group marks an important step towards completion of the transformation agenda and positions the Group well to deliver future growth.

Despite consumer confidence remaining fragile in most markets, the Group remains well placed to deliver full year expectations and, with a strong balance sheet, to pursue growth opportunities as they arise.

The Board is pleased to declare a final dividend of 5.61p, which represents the Company’s 44th consecutive year of full year dividend growth.”

Appointment of a new Non-executive Director

12 October 2016

Change to the Board of Directors
Appointment of a new Non-executive Director

PZ Cussons plc (“PZ Cussons” or the “Company”) is pleased to announce that Jez Maiden will join the Board as a Non-executive Director on 1 November 2016.

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Investor presentation - Final Results for the year ended 31 May 2017

Presentation to support the final results for the year ended 31 May 2017, announced on Tuesday 25 July 2017.

Click here to view the presentation.

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Interim Management Statement

PZ Cussons Plc today issues the following interim management statement which covers the period 22 January 2014 to 9 April 2014.

Click here to read the statement

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