PZ Cussons has reported a ‘steady improvement’ in trading conditions in Nigeria, according to a report published by The Financial Times, with liquidity beginning to ease in the second half of the fiscal year.

The UK manufacturer of St Tropez saw profits dive 37.8 percent for the six months to November 2016 as the value of Nigeria’s naira plummeted thanks to the introduction of a new exchange policy last summer.

However, although the second half is expected to show a marked improvement, PZ Cussons is still feeling the effects of inflationary pressures – despite its efforts to keep costs low. Full-year results are expected on July 25, 2017.