Dec 6 British soap and shampoo maker PZ Cussons
Plc said first-half profit is likely to be about 10
percent higher, driven by an improvement in profitability of its
Australian business and strong performance in its home market.
Revenue during the six months to Nov. 30 was broadly flat
due to difficult trading conditions in its key Nigerian market,
the maker of Imperial Leather soaps said in an interim trading
Nigeria, Africa's most populous country, has been rocked by
unrelenting violent religious clashes and the removal of an $8
billion fuel subsidy in January that led to an eight-day
PZ Cussons, which specialises in home-care, personal care
and beauty care products, gets about 40 percent of its revenue
Core brands such as Imperial Leather, Carex and Original
Source had performed well in the UK, the company said.
PZ Cussons said that it had taken measures to improve the
performance of its Australian business. However, trading
conditions in Australia remained challenging.
The company had said in July that retailers in Australia had
devoted greater shelf space to private labels, hurting PZ
Cussons' volumes and margins in the home-care business.
The company is expected to announce half-year results on
Jan. 29, 2013.
Shares in the company closed at 360 pence on the London
Stock Exchange on Wednesday.