REG - PZ CUSSONS PLC - Interim Management Statement
Released: 15/04/2010

 
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PZ CUSSONS PLC
15 April 2010 
 
15 April 2010 
 
PZ Cussons Plc 
 
(the "Group") 
 
Interim Management Statement 
 
PZ Cussons Plc today issues the following interim management statement which covers the period 27th January 2010 to 14th
April 2010. 
 
Overview of financial performance and position 
 
PZ Cussons Plc is pleased to announce that results for the period have been in line with management expectations. 
 
The Group's balance sheet remains healthy with a net funds position and strong cash generation during the period. 
 
Trading Update 
 
Europe 
 
In the UK, revenue and profits have continued to grow despite challenging trading conditions in the supermarkets which
continue to operate with high levels of promotional activity. Significant new product launches over the coming months will
provide the platform for further continued growth. The Sanctuary also continues to perform well with further product
launches also planned. 
 
Poland has continued to perform well and, despite the challenging economic conditions in Greece, revenue and profitability
have been maintained at prior year levels. 
 
Asia 
 
Performance in Australia, Indonesia and The Middle East has been strong with revenue and profits ahead of the prior year. 
 
Africa 
 
In Nigeria, the political environment remains stable with the Vice President being given the authority to function as
Acting President ahead of the elections scheduled for Spring 2011. Economically, liquidity continues to return to the
market following the financial squeeze earlier in the year caused by a strengthening of controls in the banking sector. In
addition, the naira has remained stable against the US dollar with oil prices continuing to rise. Performance in the period
across Personal Care, Home Care and Electricals has continued to improve with overall profitability ahead of the prior
year. The Nutrition joint venture continues to make good progress with sales of the new UHT products in line with
expectations. 
 
Major initiatives 
 
In Nigeria, Project Unity, which is the £39m investment in updating the manufacturing and broader supply chain facilities,
is on track for completion later this year. 
 
Outlook 
 
The trading outlook for the full year remains positive and in line with expectations despite challenging trading conditions
in some territories and input costs now rising again. 
 
Strong cashflow is also expected to continue for the remainder of the year. 
 
A further trading update will be made on 10th June 2010 after the close of the financial year. 
 
- Ends - 
 
Enquiries: 
 
PZ Cussons Plc 
 
Brandon Leigh                                                           Tel: 0161 491 8134 
 
Hogarth Partnership Limited 
 
John Olsen / Sarah MacLeod                                  Tel: 020 7357 9477 
 
This information is provided by RNS
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