PZ Cussons half year revenues and profits rise
PZ Cussons, the Manchester-based international consumer goods manufacturer, has reported an increase in half year revenues and operating profit of 4% and 6% respectively.
The group, whose UK products span from Imperial Leather soaps to St Tropez self-tan liquid and Original Source shower gels, said that were it not for a weakening in Asian currencies, revenue and operating profit for the six months to the end of November would have been 6% and 8% higher than the previous half year.
Looking ahead the company said the trading environment in most markets remains challenging, and in particular in Asia as a result of ongoing currency weakness but it added that brand renovation and innovation will continue to drive organic revenue and profit growth across the group.
In the UK, performance over the half year in the washing and bathing division has been robust with new product launches, such as the relaunch of the premium Imperial Leather Foamburst shower range, attracting consumers and helping it to differentiate in a competitive trading environment, it said.
In beauty, it added that St Tropez, in particular, had benefited from the appointment of Kate Moss at the start of the summer and has seen distribution expand further in overseas markets.
In Asian markets, Rafferty’s Garden, the Australian baby food business purchased in July, has performed well and plans for international expansion continue to be developed, it said, adding it had been impacted by higher input costs as a result of the significant weakening in the Australian dollar which has also reduced results on conversion to sterling.
In Indonesia, the company again said results had been affected on conversion by the significant weakening in the rupiah.
Meanwhile in Africa, the overall positive growth momentum seen in the second half of last year has continued into the first half, supported by new product launches across the personal care, home care and electricals portfolios, it said.
