Last checked at 14 Apr 2016 07:00
14 April 2016
PZ Cussons Plc
(the "Group")
Trading Update
PZ Cussons Plc today issues the following trading update which covers the period 27 January 2016 to 13 April 2016.
Trading Update
Overall performance for the period has been in line with expectations with performance in Europe and Asia offsetting more difficult trading conditions in Africa. Country performance has been in line with the comments made in the Interim results announcement on 26 January.
With regard to the Group's main market Nigeria, whilst the official naira exchange rate continues to be stable, a lack of availability at that rate is resulting in the majority of dollars being purchased at a premium of 50-70%. The resultant cost impact is being managed through changes to relative pricing in an environment where trading conditions remain challenging and consumer disposable income is under pressure.
Whilst the overall outlook for the financial year remains in line with expectations, the situation in Nigeria remains extremely fluid and is the largest variable to the year-end outturn.
A further trading update will be made on 9 June 2016 after the close of the financial year.
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For further information contact:
PZ Cussons Plc Brandon Leigh - Chief Financial Officer
| Tel: 0161 435 1236 |
Instinctif Partners Tim Linacre / Guy Scarborough | Tel: 020 7457 2020 |