Pz Cussons Regulatory News (PZC)

10 Jun 2009 07:00



10 June 2009

PZ Cussons Plc

(the "Group")

TRADING UPDATE

PZ Cussons Plc today issues the following trading update in respect of the year ended 31 May 2009.

Overview

PZ Cussons Plc is pleased to confirm that its results for the year ended 31 May 2009 are anticipated to be in line with expectations.

The financial position of the Group remains strong with positive operating cashflow from improved working capital management.

Markets

In the UK, the continued focus on brand renovation and delivering good value products to market has resulted in good growth, despite the challenging economic environment. 

The Nigerian economy continues to be less impacted by the global recession and is benefiting from oil prices rising again. Trading across our Personal Care, Home Care and Electricals divisions has been strong. The Nutrition joint venture continues to progress well ahead of the commissioning of the new UHT factory later this month.

In our other markets, trading overall has been in line with expectations.

Major initiatives

In the UK, the Group's £26m Personal Wash Centre of Excellence was completed in March and is fully operational with tangible benefits now being realised by the co-location of liquids manufacturing, research and development and perfumery capability on one site.

In Nigeria, Project Unity, the £39m investment in manufacturing and supply chain is well underway. Personal Care production has now been consolidated onto one site and the new National Distribution Centre is in the final stage of completion and is expected to become operational during the first quarter of the current financial year.

Preliminary Results

Preliminary results for the year ended 31 May 2009 will be announced on Tuesday 28 July 2009. 

An analysts' presentation will be given at 9:30am on that day at the offices of Panmure Gordon, Moorgate Hall, 155 Moorgate London, EC2M 6XB.