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Yes, I agree good results. My read of the release is that the CEO they recruited in 2020 is starting to have a real impact. If they can continue to get momentum in Nigeria then that will really drive earnings. After a long period of stagnation under Kanellis I like what I'm seeing!
Good results today. Markets liked them. SP up 6%.
The share price may well drift a little until the next trading update is issued but if it hits sub 180p I won’t think twice about topping up.
And yes, a 3% dividend paying defensive stock sits nicely in the stable.
For me, given the problems PZC have experienced in Nigeria I am glad the strategic review highlighted simplify the Nigerian arm of the business.
Notmyjob
Interesting post, I've been tracking this recently on the same basis as you, not bought in yet but v likely to do so soon.
Interesting holders list, mainly top flight firms but 7.3% is owned by HeronBridge, a Jersey company who are currently not taking on any more assets to "protect their performance".
A yield of over 3% is not bad & the pe could be dramatically lower if this year is the nadir of this cycle.
I like researching for unloved, out of fashion companies with good turn around potential.
PZC certainly fits the narrative.
I decided to open a position here sub 200p last week.
The main driver factor for me was the appointment back in 2020 of a new CEO.
Jonathan Myers started with PZC in May 2020 and his company readout and experience is impressive.
Outstanding even:
Avon
Procter & Gamble.
Kellogg.
He has had a lot to deal with and get right but he’s the calibre of CEO to add value to this company in 2022 and beyond.
Evergrande has nothing to do with this.
The results were clear. They are being affected by higher manufacturing costs, particularly energy.
The issue is whether they can push price increases through.
I doubt it for the luxury soap products (Sanctuary). If anything, people will be trading down to cheaper products as higher gas and power prices feed through.
Exposed to the Evergrande exposure
Good news today but minmal share price gain nothing more than the market?
Baught December 2019 up 22%. Nowt to brag about. Bought on the recommendation of Nick Train! Clearly fits into his consumer defensive category. One of his trusts is 40% consumer defensive. At the same time a recovery stock. Definitely not there yet.
Sharecast News) - PZ Cussons forecast adjusted pre-tax profits would be ahead of consensus of £63m - £64m and the previous year with revenue up 7%.
However, unprecedented demand for its hygiene brands at the beginning of the Covid-19 pandemic was currently holding back year on year revenue comparisons and, as a result, fourth sales declined year on year, the company said on Thursday.
"In the immediate term we are lapping some exceptional demand levels from the peak months of the Covid-19 pandemic, both as we ended the last financial year and as we navigate the first quarter of this year," Cussons said in a trading statement for the year to May 31.
"Along with other consumer goods companies, we are dealing with commodity and other cost headwinds. We are accelerating price increases and strengthening Revenue Growth Management plans to mitigate the impact of these headwinds and drive up price / mix to protect gross margin and continue to invest in our brands."
Cussons said its overall gross margin has improved, driven by positive price/mix in each of its core categories. Its Must Win brands grew 11% in the period.
When you look at the new CEO's outlook and vision for the company, I really think this could be the next Unilever. I'm thinking 10-20 years out, but the current product range is amazing:
No 1. Handwash brand in UK
No 1. Most trusted tanning brand globally
No 1. Soap brand in Nigeria
No 1. Cold and flu remedy in Nigeria
No 1. Dishwashing brand in Australia
One of the best selling baby food brands in Malaysia and Australia. And baby products generally.
This a very good long term play on Emerging Markets and the shift to premium products.
Got out at 256p. Been in this since 145 since my last post. Was a good ride but Bp and Covid stocks have the potential right now.
Anybody know why trading today was 12/13 times 3 monthly average? The last couple of weeks have been very good. I’m in danger of being back in green. I know that some recovery from March with following winds from Carex etc But....
Up 2.3% and went ex divi today ...i could be wrong?
Sold all mine to bank profit today. Will be back in if I get a good price but getting too heady for me. GLA
SP hit a high of 240p today then dropped back. I notice that PZC quite often gets these crazy spikes that then settle back - sometimes for weeks. Lots of volume today early doors. Maybe MMs trying to tempt a few sellers out to fill some big BUY orders. My target was @220 but having seen 240 hit today and the volume, I'm adjusting my target up to 240. Bit greedy maybe? I don't have much invested tbh.
Has there been a broker upgrade?
Can’t see why this move didn’t happen yesterday.
That's more like it !!!
Add in the 3p divvi due soon and SP is at 215. Very impressive recovery.
Excellent results - possibly lower growth than markets expected which accounts for ~5% fall in SP. However, in these times rare growth like this will be rewarded in long term and SP is very tempting BUY currently. Dividend adjusted but still being paid. Good news.
1st Quarter results impressive, and with a commanding position in hygiene, should continue for the rest of the year. Nigeria is clearly the problem child for the company - always has and hard to see stability in that region going forward.
The Company will announce its preliminary results on Wednesday 23 September. Been an adjustment due to Covid. Hopefully they've taken full advantage of the demand for soap and hand san.
Can anyone help me understand why there hasn't been an update to the results since April.
Looking at 2019, Final Results were posted 23rd July so on that basis they are somewhat delayed.....?
"Intrinsic Value Is Potentially 72% Above Its Share Price"
https://uk.finance.yahoo.com/news/pz-cussons-plcs-lon-pzc-123246621.html
I'm happy. Heading for 200p.
ffs
What are people’s thoughts on the impact the Trading Update will have on the share price?