Strong trading at PZ Cussons

IMPERIAL leather maker PZ Cussons said today trading is holding up well despite the global downturn.

The Manchester-based group added that it remains cash generative, and with only a small amount of debt, the outlook is positive.

In the UK, revenue and profits have continued to grow and The Sanctuary brand is performing with new products in the pipeline.

Phase two of the group’s £26m ‘Personal Wash Centre of Excellence’ in Manchester has been completed on schedule and is now fully operational.

In Nigeria, revenue and profitability growth has been strong in personal care, home care and electrical, and the nutrition business has now moved into profitability.

The group added that its £39m investment in updating the manufacturing and supply chain facilities in Nigeria is well underway, and a new UHT factory is being constructed.

In a statement the group said: “The outlook for the full year remains positive and in line with expectations despite the global economic downturn. 

“The group’s geographical spread, together with its ability to adapt its business model to suit local economic conditions, is supporting continued revenue and profitability growth.”

PZ Cussons will update the market again on June 4.