PZ Cussons (LSE:PZC) shares lathered up 10% to 74.8p, bouncing from recent two-decade lows, after the soaps and cleaning products group raised its profit forecast for the year.
This followed reporting stronger-than-expected sales growth in the first half, largely driven by a robust performance in Africa, revealed by the London-listed group ahead of its annual shareholder meeting.
Like-for-like revenue is expected to rise around 9% in the six months to the end of November, with growth in Africa topping 25%, helped by higher prices and volumes, with most brands gaining market share.
Outside Africa, revenue growth was only 2%.
On the back of this performance, the company now expects adjusted operating profit for the full year to come in between £50 million and £55 million – up from its previous forecast of £48 million to £53 million.
Profit is expected to be weighted towards the first half, with a planned increase in marketing spend later in the year.
As its transformation plan continues, the sale of its 50% stake in the PZ Wilmar joint venture is expected to complete before the end of 2025, generating $70 million.
Management promised to provide an update on its strategic review of the Africa business when it reports its interim results in February 2026.