Last checked at 21 Nov 2024 07:00
21 November 2024
AGM TRADING STATEMENT
Ahead of its Annual General Meeting which takes place today, PZ Cussons plc ("PZ Cussons" or the "Group") issues the following update on current trading.
Trading has been in line with expectations and consistent with the FY25 outlook and guidance provided at our FY24 full year results on 18 September.
The Group expects to report approximately 5% like-for-like revenue growth for H1 FY25. This reflects a continuation of the favourable Q1 trends led by growth in the UK, as part of our Europe and Americas region, and continued pricing in Africa given the further FX-driven inflation. APAC declined slightly, with continued improvement in Indonesia offset by some category softness in ANZ.
Gross debt is expected to be less than £160 million at the end of November 2024, compared to £167 million as at 31 May 2024. We are also taking action to reduce the impact of currency volatility in relation to intercompany loans to Nigeria.
The Group is progressing with the sale of St.Tropez and discussions with interested parties which could lead to the partial or full sale of its African business. Further updates will be provided in due course.
The Group will report its FY25 interim results on Tuesday 11 February 2025.
For further information please contact:
Investors
Simon Whittington - IR and Corporate Development Director +44 (0) 77 1137 2928
Media
Headland PZCussons@headlandconsultancy.com +44 (0) 20 3805 4822
Susanna Voyle, Stephen Malthouse, Charlie Twigg
Notes to Editors
About PZ Cussons
PZ Cussons is a FTSE250 listed consumer goods business headquartered in Manchester, UK. We employ nearly 3,000 people across our operations in Europe, North America, Asia-Pacific and Africa. Since our founding in 1884, we have been creating products to delight, care for and nourish consumers. Across our core categories of Hygiene, Baby and Beauty, our trusted and well-loved brands include Carex, Childs Farm, Cussons Baby, Imperial Leather, Morning Fresh, Original Source, Premier, Sanctuary Spa and St. Tropez. Sustainability and the wellbeing of our employees and communities everywhere are at the heart of our business model and strategy and captured by our purpose: For everyone, for life, for good.
