PZ Cussons (LSE:PZC) PLC said although the unprecedent demand for hygiene brands sparked by the Coronavirus (COVID-19) pandemic has eased revenues were well ahead of the pre-pandemic period.
In a trading update alongside full-year results, the Carex soap owner also said it was passing on the rising costs of raw materials.
Prices increases were being implemented across the board in its markets in Nigeria and Indonesia, alongside more targeted rises allied with promotions in Europe and the US.
Revenues in the three months to end August 2021, the first quarter of the current financial year, dipped 13% with hygiene/Carex responsible for all the decline, said the FTSE 250 group.
Compared to 2019, revenues were up 9% and the group added its expects to see a return to year-on-year growth this quarter in spite of strong comparisons in 2020.
For the year to end May 2022, Cussons guided towards “low to mid-single-digit revenue growth”.
In the period just-ended, revenues rose 2.7% to £606.3mln with a loss of £16.6mln which included the discontinued businesses Nutricima and legacy foreign exchange losses.
Operating profits from the continuing business rose 193% to £65.6mln.
The dividend for the 2021 year rises by 5% to 6.09p.