Financial performance - benefiting shareholders, employees
and the wider community
The board’s commitment to the principles of CSR reflects its view that it is incumbent on leading companies to make a positive contribution to society through their activities. The board also believes, however, that socially responsible conduct is value enhancing for its shareholders and other stakeholders. In particular, the board recognises the potential benefits which may be derived where its CSR activities are aligned to the concerns and demands of its customers and the Group listens to and takes account of those concerns in shaping its business strategies and practices. The board also recognises that companies are subject to increasing regulation, particularly in respect of environmental issues, and that the pursuit of a proactive CSR policy reduces the risk of adverse regulatory action.
The financial performance of PZ Cussons has a positive impact in all territories in which it operates. During 2008 revenue, profit and earnings per share for PZ Cussons were up on the previous year by 14%, 12% and 10% respectively and this financial performance has generated benefits for our shareholders, employees and wider stakeholders.
Specifically, in 2008 we:
- Paid our 9,000 employees £70 million in salaries plus £7 million to provide post-employment benefits, all of which supports the local communities in which they live and in which we operate
- Distributed £18 million as dividends, of which a significant proportion was then gifted to charity from the Zochonis Charitable Trust
- Supported local economies with £23 million paid to governments in taxes and social security, excluding sales and value added taxes generated on our products
- Provided worldwide income of more than £350 million to suppliers of raw materials (a greater proportion of which were local suppliers) helping to sustain their businesses
