PZ CUSSONS PLC - Trading Update
· Challenging market conditions across key geographies led to a decline in first half revenue and operating profit compared with last year.
· Market share grew in the
· Marketing investment in line with prior year and planned to accelerate in the second half.
· Overhead saving initiatives underway; further details to be provided later in the year.
· Sale of Greek and Polish businesses agreed; portfolio restructuring continues.
· Good improvement in net debt reflecting disposal proceeds and continued focus on cash management.
Full year outlook
A stronger second half is expected subject to no further worsening of the economic and trading environments across our key geographies. Full year revenue and adjusted profit before tax is expected to be modestly below the prior year on a like-for-like basis.
Interim results for the half year to
Retirement of Chief Executive Officer
The Company has today separately announced the retirement of
- ENDS -
For further information contact:
0161 435 1027
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020 7457 2020
This information is provided by RNS, the news service of the
Quick facts: PZ Cussons
Market Cap: £788.85 m
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