PZ Cussons has warned that it expects market conditions to remain challenging across its key geographies for the balance of the first half of the year.
In a trading statement published last week, the manufacturer of Carex and St Tropez flagged the fact that its key markets continue to be impacted by consumer fragility, specifically Nigeria, where the economy remains depressed, the UK, where uncertainty reigns and Australia which is a highly competitive market.
The company reported encouraging progress in the first quarter across Europe and the Americas with its Beauty division performing well in the US, although revenue dropped across UK Personal Care brands. The company saw revenue fall in both the Asia Pacific and Africa regions, the former thanks to increased promotional spend in Australia.
“We expect the full year results to be in line with prior year, adjusted for the impact of disposals, but dependent on no further worsening in our key markets, specifically the UK and Nigeria,” the company said in a statement.