Last checked at 10 Jun 2010 07:00
10 June 2010
PZ Cussons Plc
(the "Group")
TRADING UPDATE
PZ Cussons Plc today issues the following trading update in respect of the year ended 31 May 2010.
Overview
PZ Cussons Plc is pleased to confirm that its results for the year ended 31 May 2010 are anticipated to be in line with expectations.
The Group's balance sheet remains healthy with a continued net funds position following strong cash generation during the period.
Markets
Europe
In the UK, despite the trading environment remaining competitive and a worsening consumer outlook, an excellent pipeline of innovation has enabled strong profitable growth across the brand ranges of Imperial Leather, Carex, Original Source, Charles Worthington and The Sanctuary.
Poland has performed well in the year, whilst the economic situation in Greece has resulted in difficult trading conditions.
Asia
Effective brand renovation together with favourable market conditions has resulted in strong performance across Australia, Indonesia and The Middle East.
Africa
In Nigeria, the political environment remains stable with the former Vice President now inaugurated as President ahead of elections scheduled for spring of next year. Economically, liquidity continues to improve and trading during the last few months across Personal Care, Home Care, Electricals and Nutrition has been robust.
Major Initiatives
In Nigeria, Project Unity, which is the £39m investment in manufacturing and supply chain, is on track for completion within the next few months.
The Group's major capital investment programme is therefore almost complete.
Preliminary Results
Preliminary results for the year ended 31 May 2010 will be announced on Tuesday 27 July 2010.
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.
For further information contact:
PZ Cussons Plc Tel: 0161 435 1016
Brandon Leigh
Hogarth Limited Tel: 020 7357 9477
John Olsen / Sarah MacLeod