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Pin to quick picksPz Cussons Share News (PZC)

Share Price Information for Pz Cussons (PZC)

London Stock Exchange
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Share Price: 75.90
Bid: 76.20
Ask: 76.50
Change: 1.70 (2.29%)
Spread: 0.30 (0.394%)
Open: 76.00
High: 76.50
Low: 74.70
Prev. Close: 74.20
PZC Live PriceLast checked at -

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PZ Cussons takes confidence from product pipeline

Wed, 28th Sep 2016 07:49

(ShareCast News) - First quarter trading at PZ Cussons was "robust" and the washing, bathing and beauty group was bullish that its bulging pipeline of new products will allow it to weather challenging trading conditions it is facing in most markets.Despite the considerable uncertainty in its key African market of Nigeria, the FTSE 250 group said overall its performance and cash generation "in line with expectations", with its financial position having remained "strong".Europe, which contributed more than 60% of group operating profits last year, was "robust" with washing and bathing brands such as Imperial Leather, Original Source and Carex in the UK offsetting weaker beauty where UK sales of St Tropez fake tan were hit by poor weather, though encouragingly the US is reported to have been "particularly strong'".Africa, 21% of group earnings before interest and tax, saw "some improvement in liquidity" in Nigeria following the introduction of the new flexible exchange rate regime in June.Performance was again "robust" with the diverse brand portfolio in Nigeria "working well in an environment where the consumer is under significant inflationary pressure", while smaller operations in Ghana and Kenya in line with expectations.Asia saw "tough" conditions in Australia but with hopes buoyed by a strong new product pipeline in place for the remainder of the year across all categories, while Asian results are benefiting from weaker sterling.Sales in Indonesia was reported as "strong", while Thailand and the Middle East were in line. On the outlook, management stated: "The strength of the Group's brand portfolio and new product pipeline is serving us well and, together with a continued focus on costs, leaves the Group well placed to manage the challenging trading conditions that exist in most markets."The group's balance sheet remains strong and well placed to pursue new opportunities as they arise."
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IN BRIEF: PZ Cussons offers GBP23 million to de-list Nigeria business

PZ Cussons PLC - Manchester, England-based hygiene, baby and beauty consumer products - Offers to buy out minority shareholders of Nigerian subsidiary and de-list the company from the Nigerian stock exchange. PZ Cussons Nigeria PLC has a portfolio of family care brands, such as Premier, Joy and Morning Fresh. PZ Cussons has offered NGN21, about 2.2 pence, per share to buy the 26.7% of the Nigerian subsidiary that it doesn't already own. This will be a total cost of GBP22.8 million. PZ Cussons says the funding will come from its cash balances in Nigerian naira. It thinks the acquisition will "significantly simplify and strengthen" its business in Nigeria.

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PZ Cussons looks to delist Nigeria unit with offer to minority shareholders

Sept 5 (Reuters) - Soap maker PZ Cussons said on Tuesday it has offered to buy out minority shareholders of PZ Cussons Nigeria (PZCN) and aims to de-list the business from the Nigerian stock exchange amid "foreign exchange challenges" in the country.

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PZ Cussons offers to buy out Nigeria minority stake for £23m

(Sharecast News) - Consumer goods firm PZ Cussons has offered to buy out the minority-held shares of PZ Cussons Nigeria (PZCN) for £22.8m with a plan to de-list the business from the Nigerian stock exchange.

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