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5 Jun 2008 07:00
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5 June 2008
PZ Cussons Plc
(the "Group")
TRADING UPDATE
PZ Cussons PlcΒ today issues the following trading update in respect of the year ended 31 May 2008.
Overview
PZ Cussons Plc is pleased to confirm that its results for the yearΒ endedΒ 31 May 2008 are anticipated to be in line with expectations.
The Group is currently offsetting furtherΒ significantΒ rises in input costs through cost reduction initiatives and price increases.
Markets
Trading in the Group's largest market,Β Nigeria, has been strong across all ourΒ categories, namelyΒ homecare, personal care, electricals and nutrition.
In theΒ UK, the Group's second largest market, sales have also been strong,Β althoughΒ the group remains conscious of theΒ difficultΒ consumer environment.
In our other markets, trading overall has been in line with expectations.
Major initiatives
Performance of The Sanctuary, acquired in JanuaryΒ this year, has also been in line with expectations, with both the products business and the spa performing well.
Production has now commenced at our newΒ UKΒ manufacturing facility in Agecroft,Β Manchester, with transfer of the remaining production capacity expected to be completed on schedule by the end of the calendar year. Construction of the new Innovation Centre, located on the same site, has also now begun.
In September 2007, the Group concluded the first part of a major two stage review of its Nigerian manufacturing facilities and announced anΒ Β£18m investment programme. The Group has now concludedΒ the second part of the reviewΒ andΒ todayΒ announces a further Β£21m investmentΒ to upgrade theΒ soaps and detergents production facilitiesΒ with expenditure to beΒ incurred over the next three years.
Preliminary Results
PreliminaryΒ results for theΒ year to 31 May 2008Β will beΒ announcedΒ on Tuesday 29Β JulyΒ 2008.Β
An analysts'Β presentation will be given at 9:30am on that day at the offices of JPMorgan Cazenove, 20 Moorgate,Β London,Β EC2R 6DA.
For further information contact:
PZ Cussons Plc Tel: 0161 491 8000
Graham Calder, Deputy Chairman, or
Brandon Leigh, Finance Director
HogarthΒ Partnership Limited Tel: 020 7357 9477
John OlsenΒ /Β Sarah MacLeodΒ /Β Sarah Richardson
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