June 14, 2018 / 12:29 PM / 4 days ago

PREWRITE--JUNE 14-Soap maker PZ Cussons xxx

June 14 (Reuters) - Soaps and cosmetics maker PZ Cussons said its trading performance for the year is in line/below/ above expectations, helped by strong performance in all of regions/ hurt by weaker sales in major markets.

This comes after the company issued a profit warning in March saying that it would cut costs amid weaker sales in the UK and Nigeria, its key market.

The Imperial Lather and Carex maker said its bathing product sales in the UK xxxxx. Its personal care segment, with brands like Sanctuary and St Tropez, is xx.

Update

“quote”

The company has been hit by the devaluation of Nigerian currency Naira, while its UK consumers have been shopping cautiously due to general cost inflation and economic uncertainty.

In March, (The company said it expected full-year profit before tax to be 80 million pounds to 85 million pounds.).

Shares of the company were xx percent down/up in early market trading.

In Nigeria, although its faced significant currency pressures, the company said xxx. Ghana and Kenya have xx.

Africa is its biggest market and constitutes 38 percent of its revenue followed by its European market contributing 35 percent.

Aside from home care and personal products PZ Cussons also sells home appliances, partnering with Haier, in Africa. It is the market leader in Nigeria for freezers and refrigerators.

The company said sales in Asia was xxx. Middle East and Thailand performance was xxx.

Reporting by Sangameswaran S in Bengaluru

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