PZ CUSSONS PLC
07 June 2007
7 June 2007
PZ CUSSONS PLC
TRADING UPDATE
PZ Cussons Plc today issues the following trading update in respect of the year
ended 31 May 2007.
The group anticipates that results for the full year will be in line with
expectations.
Overall, strong trading performance, particularly in all European units, has
countered the second half impact of a further weakening of the US dollar and
continued increases in the price of certain commodities.
In its key markets, trading comments are as follows:
In the group's main market, Nigeria, trading in the second half has been strong
with very limited disruption from the election process. In particular, sales of
electrical goods through our partnership with Haier have been above
expectations. Our joint venture with Glanbia continues to progress well with a
number of successful new product launches in the second half, although the
rising cost of milk has impacted margins in the short term. The Nigerian
currency has remained stable against the dollar during the period although the
results are affected on translation to sterling as a result of the weak dollar.
In the UK, performance has been above expectations with achievement of the
number one position in the Personal Wash category and a successful roll-out of
the Charles Worthington haircare brand into the nationwide trade. Construction
of the new Innovation Centre in Manchester, incorporating a manufacturing
facility and R&D centre, has now begun.
As indicated in the interim statement, profitability in Australia has been
impacted by a competitive detergent market as a result of the introduction of
private label ranges by the trade.
In Indonesia, performance continues to improve with strong sales of the baby
range in the second half.
The preliminary announcement of results for the twelve months to 31 May 2007
will be made on Tuesday 31 July 2007.
-Ends-
Enquiries:
PZ Cussons Plc Tel: 0161 491 8000
Graham Calder
Hogarth Partnership Limited Tel: 020 7357 9477
John Olsen / Sarah MacLeod / Sarah Richardson
This information is provided by RNS
The company news service from the London Stock Exchange
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