Pz Cussons Regulatory News (PZC)

30 Nov 2006 07:01

PZ CUSSONS PLC30 November 2006 30 November 2006 PZ Cussons Plc Pre-Close Statement PZ Cussons Plc announces its pre-close trading statement in respect of the halfyear to 30 November 2006. First half trading PZ Cussons is pleased to confirm that all regions have continued to perform inline with management expectations during the first half of the financial year,with improvements in both sales and profitability compared to the same periodlast year. Update on key projects The joint venture with Glanbia Plc continues to progress well and, as previouslyannounced, the current milk factory in Nigeria is being extended to providefurther capacity for the production of both powdered and evaporated milk. PZCussons and Glanbia are now pleased to announce that a second factory will beconstructed for the manufacture of further nutritional products. PZ Cussons'share of the total capital cost of both projects is £15m over two years. As previously announced, the group will be constructing a new, purpose builtliquids factory in North Manchester. The group is pleased to announce that thecontract to purchase the site has now been signed and the project is fullyunderway. Full year outlook The outlook for the full year remains positive and in line with expectations. Inparticular, economic and political stability continues in Nigeria ahead of theelections in the spring of 2007. Across the group, further cost savings arebeing actioned to counter ongoing pressure on raw material costs and the effectof the weakening dollar. Non - Executive Directors Mr Rod Sellers will retire from the board on 31 May 2007. The group is delightedto announce the appointment of Professor John Arnold as non-executive directorwith effect from 1 January 2007. John is currently Dean of Manchester BusinessSchool and has previously been President of the Institute of CharteredAccountants in Manchester. Interim Announcement The interim announcement of results for the half year to 30 November 2006 willbe made on Tuesday 30 January 2007. For further information please contact: Graham Calder, Deputy Chairman, 0161 491 8000. This information is provided by RNS The company news service from the London Stock Exchange