Daily Archives: October 11, 2017

PZ Cussons Nigeria suffers first quarter loss

PZ Cussons Nigeria Plc, makers of a wide range of consumer products including electricals, personal and homecare products, dairy brands, among others reported a loss of N123m in the first quarter of its 2018 financial year ending on 31 August 2017.

The company blamed its poor performance on higher cost of sales, driven by foreign exchange loss of N1.8bn. Cost of sales rose 17.6% to N12.9bn, while administrative expenses skyrocketed 42% to N1.87bn.

Moët Hennessy Year-to-date sales slump on third quarter supply constraints

Moët Hennessy, the wines & spirits division of French luxury goods maker Louis Vuitton Moët Hennessy (LVMH), said on Tuesday that revenue for the first nine months to the end of September grew 7% to €3.5bn, from €3.2bn in the previous year.

The company which makes high-end luxury goods such as perfumes & cosmetics, fashion & leather goods, watches & jewelry noted that despite a 7% growth in the wines & spirits business group, it trailed all other business categories that recorded double-digit growth.

Price increases help lift PZ Cussons Nigeria’s year-end results

PZ Cussons Nigeria Plc, manufacturers of a wide range of consumer goods including Nutricima brands such as Yo, Coast, Nunu and Olympic yoghurt and milk brands reported a 15% rise in revenue for the full-year ending 31 May 2017. Sales reached N79.6bn from N69.5bn in 2016.

Profit for the year rose 73.1% to N3.7bn, helped by price increases implemented through the year to mitigate the effects of inflation caused by Naira devaluation and poor liquidity.