PZ Cussons downturn boosted by strong European performance

PZ Cussons downturn boosted by strong European performance

Personal care giant PZ Cussons has offset a poor performance in African and Asian markets thanks to a strong show by its European division, thanks in part to the success of a tanning shower gel that gives a gradual glow with regular use.

Tough trading conditions and currency challenges in African and Asian markets gave the company a rough six months to November, 2015, with revenue down at £285.9m. However, a strong innovation push with products such as the St Tropez in shower gradual tan lotion and a new range of Carex bodywash products boosted the European arm.

Profits after exceptionals slightly beat 2014’s margin of £39.7m at £40m while the company, which has brands such as Imperial Leather, Original Source, Carex and St Tropez, reported revenue and operating profit of 9.6 percent and 3.5 percent respectively, excluding the impact of currency.

Chairman Richard Harvey said, “These are a steady set of results in what have been challenging markets with overall revenue and profitability broadly flat versus the comparative period. A strong performance in Europe has offset a more difficult trading environment in Nigeria and the impact of weaker currencies in both Asia and Africa.”