Tag Archives: PZ Cussons Nigeria Plc

PZ Cussons Nigeria set to exit dairy business with proposed sale of Nutricima to FrieslandCampina WAMCO

nutricima

British-based consumer goods company PZ Cussons Plc has announced the proposed sale of its Nutricima Nigeria dairy business.

In a statement, the company said it has exchanged contracts for the sale of the assets associated with Nutricima’s business to FrieslandCampina WAMCO Nigeria Plc, an affiliate of Royal FrieslandCampina in the Netherlands. Under Nigerian law, completion of the transaction is subject to merger clearance in Nigeria, the statement read.

PZ Cussons Nigeria posts first quarter loss amid lower revenue growth, challenging market conditions

PZ Cussons Nigeria Plc

PZ Cussons Nigeria Plc, over the weekend reported a net loss of N1.09bn for the first quarter of 2019/2020 financial year, further worsening its loss from the same period in 2019 when it recorded a net loss of N205m.

The consumer goods company said that revenue declined marginally by 0.5% to N15.8bn, driven by low consumer demand, which was impacted by a weak economy as well as competition in the market place.

PZ Cussons Nigeria posts full-year revenue and profit decline amid low consumer demand, competitive pressure

PZ Cussons Nigeria Plc has reported declines in its revenue and profit for the full-year ending in May 2019.

The consumer goods company said that revenue fell by 7.72% to N74.3bn from N80.6bn in 2018, impacted by low consumer demand, which in turn was driven by macroeconomic conditions as well as competition from rival brands.

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

nutricima

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.