PZ Cussons performing to par

MANCHESTER-based consumer products group PZ Cussons says its trading performance in the quarter from June 1 to September 27 has been in line with expectations.

The listed company will tell its annual meeting today its financial position remains strong with cash generation also meeting its target.

In the UK, performance in the washing and bathing division has been robust across the brand portfolio of Imperial Leather, Original Source and Carex with the group’s renovation and innovation strategy continuing to play an important role in holding or growing market shares in a competitive trading environment.

In the beauty division, a poor summer has adversely affected sales of St Tropez in the UK, however sales in the US have been particularly strong.

A significant number of new product launches will take place across the portfolio of St Tropez, Sanctuary, Fudge and Charles Worthington over the remainder of the financial year.

Performance in the smaller markets of Poland and Greece has been in line with expectations.

In Australia, whilst tough trading conditions are evident in all channels, there is a strong new product pipeline in place for the remainder of the year across all categories of personal care, beauty, home care and food and nutrition.
 
Revenue growth in Indonesia has continued to be strong across both babycare and non-babycare portfolios and performance in the smaller markets of Thailand and the Middle East has been in line with expectations.

Asian results are also benefiting on translation to sterling as a result of the weaker pound.

In Nigeria, following the introduction of the new flexible exchange rate regime in June which led to a 40% devaluation of the naira, there has been some improvement in liquidity although the currency has continued to weaken on both the interbank and secondary markets.

Performance across personal care, home care, electricals and food and nutrition has been robust in the period. The group’s diverse brand portfolio with product offerings at all price points is working well in an environment where the consumer is under significant inflationary pressure.

Performance in the smaller markets of Ghana and Kenya has been in line with expectations.

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