Share Name Share Symbol Market Type Share ISIN Share Description
Pz Cussons Plc LSE:PZC London Ordinary Share GB00B19Z1432 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  4.20 2.18% 196.60 191.60 195.20 203.50 189.60 196.20 469,500 16:35:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Personal Goods 689.4 37.0 6.2 31.5 843

PZ CUSSONS PLC AGM Trading Statement

25/09/2019 7:00am

UK Regulatory (RNS & others)


Pz Cussons (LSE:PZC)
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RNS Number : 5351N

PZ CUSSONS PLC

25 September 2019

PZ Cussons Plc

("PZ Cussons" or the "Group")

AGM Trading Statement

PZ Cussons Plc, a leading international consumer products group, issues the following trading update in advance of its Annual General Meeting, to be held at 10:30 a.m. today:

Q1 Headlines

-- Early progress on the implementation of new Group strategy with disposal of food business in Greece and local Polish personal care brand Luksja for over GBP50m.

-- Key markets continue to be impacted by consumer fragility, with the Nigerian economy remaining depressed, uncertainty in the UK and highly competitive markets in Australia.

   --     Balance sheet remains strong with cash generation in line with expectations. 

Q1 Regional Revenue Performance

In Europe & the Americas, there was some encouraging progress in our core brands. In the US our Beauty category continued to perform well in the market. The UK Personal Care brands were impacted by consumer uncertainty and heavy promotional activity, leading to lower revenue.

Asia Pacific revenue declined versus the prior year. Continued good growth in Indonesia was offset by increased promotional spend in Australia across all categories.

Africa revenue continued to decline albeit at a slower rate compared to last year. Good growth in the Electricals category and selected premium brands was offset by the decline of value brands, primarily in Home Care.

Outlook

We anticipate market conditions will remain challenging across our key geographies for the balance of the first half of the year. Improvement is anticipated in the second half of the year, as planned marketing activities behind our focus brands and overhead reduction programmes take effect. The strategic refocusing and simplification of our activities will continue.

We expect the full year results to be in line with prior year, adjusted for the impact of disposals, but dependent on no further worsening in our key markets, specifically the UK and Nigeria.

- Ends -

Press enquiries

 
 PZ Cussons 
  Alan Bergin (Interim Chief Financial 
  Officer)                                0161 435 1236 
 Instinctif 
  Tim Linacre / Guy Scarborough           020 7457 2020 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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September 25, 2019 02:00 ET (06:00 GMT)

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