PZ Cussons Plc announces its unaudited interim results for the six months ended 30 November 2013.
Click here to read the full statement.
Click here to view the Investor Presentation.
Commenting today, Richard Harvey (Chairman) said:
“The Group has delivered a good result for the half year with growth in both revenue and profitability. This has been achieved despite a significant weakening in Asian currencies, and in particular the Australian dollar and Indonesian rupiah. Our performance in the UK has been particularly robust and growth is improving in all our categories in Nigeria.
Trading conditions in all geographies remain challenging and the Group’s focus on innovation and brand development continues to ensure profitable growth is achieved in the markets and categories in which we operate.
It has been particularly pleasing to see the progress of the palm oil joint venture with Wilmar with the refinery operating well and the new brands Mamador and Devon King’s being launched during the period. The acquisition of Rafferty’s Garden marked the Group’s entry into the Asian Food and Nutrition category and we are pleased with its performance since acquisition and are excited about its potential.
Our balance sheet remains strong and we have the appetite to pursue further investment opportunities which fit our strategic aims. I am delighted that we are declaring an interim dividend increase of 7.7%, continuing our track record of dividend growth. Our overall performance since the period end has been in line with management expectations. Whilst the trading environment in most markets remains challenging, and in particular in Asia as a result of ongoing currency weakness, brand renovation and innovation continues to drive revenue and profit growth across the Group.”
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