| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: PERSONAL GOODS |
PZ Cussons sees H1 in line |
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Wed 09 Dec 2009
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LONDON (SHARECAST) - Soap maker PZ Cussons said trading in the first half of the year has been in line with management expectations and the outlook for the full year remains positive.
The maker of Imperial Leather said overall performance in Europe has been strong, with particularly good momentum in the UK and strong export sales out of Poland.
In Asia, strong performance from Australia, Indonesia and the Middle East boosted profitability, it added.
Meanwhile in Africa, overall profitability in Nigeria was ahead of the same period last year despite a weakening of the Nigerian naira versus the US dollar, which adversely impacted results on translation to sterling.
Sales volumes in Nigeria during the second quarter were hit by banks lending less.
PZ Cussons said it expects the strong performance in Europe and Asia to offset any continued impact in Nigeria of adverse exchange rates and the tightening of liquidity in the market.
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