PZ CUSSONS PLC AGM Trading Statement (9181B)
September 26 2018 - 2:00AM
UK Regulatory
TIDMPZC
RNS Number : 9181B
PZ CUSSONS PLC
26 September 2018
26 September 2018
PZ Cussons Plc
(the "Group")
AGM Trading Statement
PZ Cussons Plc, a leading international consumer products group,
today issues the following trading update in advance of its Annual
General Meeting, to be held at 10:30 today:
PZ Cussons reports that overall results for the quarter ended 31
August 2018 have been in line with expectations. Notwithstanding
the continued challenges faced by consumers in all markets, good
performance in Europe and Asia has offset challenging trading
conditions in Nigeria, with overall results underpinned by a robust
and innovative product pipeline and tight control of costs.
In the UK Washing and Bathing division, an acceleration of the
pace of new product launches, together with an upweighted consumer
engagement programme supported by increased brand investment, is
driving good growth across the key brands of Imperial Leather,
Carex and Original Source.
In the Beauty division, good growth is being achieved across the
portfolio of Sanctuary, St Tropez, Charles Worthington and Fudge,
driven by new product launches as well as expansion into new on and
offline channels.
In Australia, solid performance continues across all categories
of Personal Care, Home Care and Food & Nutrition, with new
product launches across all areas of the portfolio.
In Indonesia, Cussons Baby continues to strengthen its number
one position, with Cussons Kids and Imperial Leather also making
good progress.
In Nigeria, consumer disposable income remains subdued ahead of
the general elections which are scheduled for February 2019. With
prices, volumes and margins continuing to remain under pressure,
the business is focussing on optimising price points and sizes
across the key brands in the portfolio, whilst the Nutricima
business, which was loss making last year, has now moved into a
breakeven position.
In conclusion, Europe and Asia continue to perform well, whilst
improvement in Africa will largely be dependent on the macro
environment in Nigeria during the remainder of the year.
Enquiries:
PZ Cussons Plc
Brandon Leigh Tel: 0161 435 1236
Instinctif
Tim Linacre / Guy Scarborough Tel: 020 7457 2020
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END
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