Exchange rates put PZ Cussons under pressure
INTERNATIONAL consumer products company PZ Cussons has warned that the lack of availability of dollars in its main market of Nigeria could have an impact on its results.
Whilst the official naira exchange rate in NIgeria continues to be stable, a lack of availability at that rate is resulting in the majority of dollars being purchased at a premium of 50-70%.
"The situation in Nigeria remains extremely fluid and is the largest variable to the year-end outturn," it said.
"The cost impact is being managed t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...