Tag Archives: PZ Cussons Nigeria Plc

PZ Cussons Nigeria reaffirms confidence in Nigerian economy as it marks 120 Years in the country

PZ Cussons Nigeria Plc has reiterated its commitment to the Nigerian economy, noting that it will continue to invest in growing its business for better returns for its shareholders.

The company which is celebrating its 120 years in Nigeria said that it believes that the Nigerian economy has enormous potential, adding that it will continue to partner with the Federal Government for the development of the economy.

PZ Cussons Nigeria profit drops 40% as weak consumer demand impact sales

Consumer Goods Company PZ Cussons Nigeria Plc continues to feel the impact of a lingering recession with low patronage of its goods due to subdued consumer disposable income.

The company reported a 40% decline in profits for the nine months to the end of February, blamed on weak consumer demand, which saw sales fall by 13% to N55bn from N63bn in the previous year. The company said that profits fell to N807m from N1.3bn in the same period in 2018 despite the company’s best effort to manage costs.

PZ Cussons denies reports it is leaving Nigeria

Leading consumer goods company PZ Cussons Nigeria Plc has denied reports that it is pulling out of Nigeria.

In a series of reports that appeared online earlier in the week, first at online platform, Nairaland, with the heading, “PZ pulls out from Nigeria,” and yet at another online platform with the caption, “Nigeria PZ Cussons to withdraw amid tough conditions,”

Cost saving initiatives lifts PZ Cussons Nigeria half-year profit

PZ Cussons Nigeria Plc, the maker of a wide range of consumer goods, said that half-year profit for period ending 30th November 2018 grew by 107% to N1.22bn from N589.5m, helped by cost management initiatives and improvement in net finance costs.

The company saw a 48% drop in administrative expense to N1.98bn from N3.8bn in the previous year. Net finance cost declined by 119% to N95m from N501m in the previous year, boosted by improvement in foreign exchange loss by 80%.

PZ Cussons issues low profit warning ahead of release of first-half results

PZ Cussons Plc, the British maker of a wide range of consumer goods and parent company of PZ Cussons Nigeria Plc, issued a profit warning on Thursday ahead of the release of its half-year results in January for period ending 30th November, 2018.

PZ Cussons Nigeria posts first quarter loss as low consumer demand hurt sales

PZ Cussons Nigeria Plc, on Friday announced a net loss of ₦208 million for the first quarter of 2018/19 financial year ending on 31 August.

The consumer goods company which has a diverse product line that includes electricals, personal and homecare products, dairy brands under the Nutricima business line and others said that the loss came as a result of low patronage of its products due to subdued consumer disposable income. Net revenue fell by 14.3% to ₦15.9bn from ₦18.5bn in the same period in 2017.

PZ Cussons Nigeria full year profit halved amid weak consumer demand, competition and higher borrowing cost

PZ Cussons Nigeria Plc, the Nigerian unit of British consumer goods maker, PZ Cussons Plc reported its full year 2018 results on Friday, with the firm’s profit declining by 48% to N1.9bn from N3.7bn in the previous year.

PZ Cussons issues profit warning amid weak sales

PZ Cussons Plc, the British maker of a wide range of consumer products and parent company of PZ Cussons Nigeria Plc, issued a profit warning on Thursday ahead of the release of its full year results in May 2018.

The group which trades across the world, including Nigeria, its biggest market, said that pre-tax profit will come in lower than expected in the £80m-£85m range.

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.

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.