PZ Cussons sees group revenue growth of 3%

UK consumer goods and healthcare company PZ Cussons said it expected annual group revenue of around £590m with like-for-like growth of 3%.

The maker of Imperial Leather soap on Monday said final quarter like-for-like sales grew 7%, driven by price/mix as it maintained full-year profits guidance.

“We continue to see good revenue momentum on our Must Win Brands, which grew 4% in Q4,” it added.

“This sequential improvement reflects the ongoing benefit of marketing and executional focus, a normalising of the supply challenges for US Beauty, and a significantly lower rate of decline in Carex, as the demand for the hand hygiene category in the UK normalises following the Covid pandemic.”

Chief executive Jonathan Myers said the trading environment continued to be challenging, with high input cost inflation and pressures on household budgets, but Cussons had plans in place to mitigate the impact.

“The recent introduction of our new portfolio brand, Cussons Creations, for the value-conscious consumer, alongside the re-launches of Sanctuary Spa and Imperial Leather, are good examples of such initiatives,” he said.

“They have been well received by customers and have allowed us to secure significant distribution gains.”