Trading Update

RNS Number : 3437N

PZ CUSSONS PLC

10 June 2010

 



10 June 2010

PZ Cussons Plc

(the "Group")

TRADING UPDATE

PZ Cussons Plc today issues the following trading update in respect of the year ended 31 May 2010.

Overview

PZ Cussons Plc is pleased to confirm that its results for the year ended 31 May 2010 are anticipated to be in line with expectations.

The Group's balance sheet remains healthy with a continued net funds position following strong cash generation during the period.

Markets

Europe

In the UK, despite the trading environment remaining competitive and a worsening consumer outlook, an excellent pipeline of innovation has enabled strong profitable growth across the brand ranges of Imperial Leather, Carex, Original Source, Charles Worthington and The Sanctuary.

Poland has performed well in the year, whilst the economic situation in Greece has resulted in difficult trading conditions.

Asia

Effective brand renovation together with favourable market conditions has resulted in strong performance across Australia, Indonesia and The Middle East.

Africa

In Nigeria, the political environment remains stable with the former Vice President now inaugurated as President ahead of elections scheduled for spring of next year. Economically, liquidity continues to improve and trading during the last few months across Personal Care, Home Care, Electricals and Nutrition has been robust.

Major Initiatives

In Nigeria, Project Unity, which is the £39m investment in manufacturing and supply chain, is on track for completion within the next few months.

The Group's major capital investment programme is therefore almost complete.

Preliminary Results

Preliminary results for the year ended 31 May 2010 will be announced on Tuesday 27 July 2010.

An analysts' presentation will be given at 9:30am on that day at the offices of Panmure Gordon, Moorgate Hall, 155 Moorgate London, EC2M 6XB.

For further information contact:

PZ Cussons Plc                                                                       Tel: [phone]

Brandon Leigh

Hogarth Limited                                                                     Tel: [phone]

John Olsen / Sarah MacLeod

 

END

 

 

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