PZ CUSSONS PLC
30 November 2006
30 November 2006
PZ Cussons Plc
Pre-Close Statement
PZ Cussons Plc announces its pre-close trading statement in respect of the half
year to 30 November 2006.
First half trading
PZ Cussons is pleased to confirm that all regions have continued to perform in
line with management expectations during the first half of the financial year,
with improvements in both sales and profitability compared to the same period
last year.
Update on key projects
The joint venture with Glanbia Plc continues to progress well and, as previously
announced, the current milk factory in Nigeria is being extended to provide
further capacity for the production of both powdered and evaporated milk. PZ
Cussons and Glanbia are now pleased to announce that a second factory will be
constructed for the manufacture of further nutritional products. PZ Cussons'
share of the total capital cost of both projects is £15m over two years.
As previously announced, the group will be constructing a new, purpose built
liquids factory in North Manchester. The group is pleased to announce that the
contract to purchase the site has now been signed and the project is fully
underway.
Full year outlook
The outlook for the full year remains positive and in line with expectations. In
particular, economic and political stability continues in Nigeria ahead of the
elections in the spring of 2007. Across the group, further cost savings are
being actioned to counter ongoing pressure on raw material costs and the effect
of the weakening dollar.
Non - Executive Directors
Mr Rod Sellers will retire from the board on 31 May 2007. The group is delighted
to announce the appointment of Professor John Arnold as non-executive director
with effect from 1 January 2007. John is currently Dean of Manchester Business
School and has previously been President of the Institute of Chartered
Accountants in Manchester.
Interim Announcement
The interim announcement of results for the half year to 30 November 2006 will
be made on Tuesday 30 January 2007.
For further information please contact:
Graham Calder, Deputy Chairman, 0161 491 8000.
This information is provided by RNS
The company news service from the London Stock Exchange
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