PZ Cussons PLC (LSE:PZC) has reported 6.2% growth in its third-quarter revenue boosted by strong growth in sales of St Tropez US and the combined Imperial Leather and Cussons Creations portfolio.
In a trading update for its third quarter ended March 4, 2023, the personal healthcare products and consumer goods manufacturer said revenue rose to £166mln in the period and that it expects adjusted profit before tax to be at least in line with current market estimates.
The company noted that the Europe & the Americas region returned to strong revenue growth and with significantly improved margin although Carex revenue declined in the period reflecting the reduction in the UK Hand Hygiene category more broadly.
Childs Farm is performing as expected and is on track for double-digit revenue growth in the year, on a pro-forma basis, the company said.
It noted that its Asia Pacific performance has been driven by strong growth in Australia, reflecting continued successful revenue growth management activity and sustained share gains across our major brands while Africa trading was in line with expectations, with all Must Win Brands in good growth.
In Asia, Cussons Baby revenue declined slightly, in line with the overall category, reflecting increased pressure on consumer spending in recent months as well as some retailer de-stocking, the company said.