PZ Cussons (LSE:PZC) PLC reported trading remains in line with prior guidance, supported by strong growth in Nigeria, Australia and New Zealand (ANZ) but offset by a dip in Indonesia.
The owner of Imperial Leather and Carex soap was commenting ahead of today’s AGM, saying trading has been consistent with the outlook provided at full-year results in September.
As a result, the company expects to report low-single-digit like-for-like revenue growth for the first half of the current financial year.
This reflects strong growth in Nigeria and ANZ offset by a decline in Indonesia.
Its Europe and Americas business is stable overall, with significantly improving momentum in UK washing and bathing brands offset by a decline in the Beauty business.
PZ Cussons (LSE:PZC) expects to deliver a robust year-on-year operating margin improvement in the first half and both revenue growth and operating margin are forecast to improve in the second half compared to the first.
In Nigeria, trading in the first half of the year has continued to be strong with most brands holding or gaining market share.
The company added forex market liquidity has shown tentative signs of improvement.