21 November 2024
AGM TRADING
STATEMENT
Ahead of its
Annual General Meeting which takes place today, PZ Cussons plc ("PZ
Cussons" or the "Group") issues the following update on current
trading.
Trading has been
in line with expectations and consistent with the FY25 outlook and
guidance provided at our FY24 full year results on 18
September.
The Group expects
to report
approximately 5% like-for-like revenue growth for H1 FY25. This reflects a
continuation of the favourable Q1 trends led by growth in the UK,
as part of our Europe and Americas region, and continued pricing in
Africa given the further FX-driven inflation. APAC declined
slightly, with continued improvement in Indonesia offset by some
category softness in ANZ.
Gross debt is
expected to be less than £160 million at the end of November 2024,
compared to £167 million as at 31 May 2024. We are also taking
action to reduce the impact of currency volatility in relation to
intercompany loans to Nigeria.
The Group is
progressing with the sale of St.Tropez and discussions with
interested parties which could lead to the partial or full sale of
its African business. Further updates will be provided in due
course.
The Group will
report its FY25 interim results on Tuesday 11 February
2025.
For further
information please contact:
Investors
Simon Whittington
- IR and Corporate Development
Director +44 (0) 77 1137
2928
Media
Headland
PZCussons@headlandconsultancy.com
+44 (0) 20 3805 4822
Susanna Voyle,
Stephen Malthouse, Charlie Twigg
Notes to
Editors
About PZ Cussons
PZ Cussons is a
FTSE250 listed consumer goods business headquartered in Manchester,
UK. We employ nearly 3,000 people across our operations in Europe,
North America, Asia-Pacific and Africa. Since our founding in 1884,
we have been creating products to delight, care for and nourish
consumers. Across our core categories of Hygiene, Baby and Beauty,
our trusted and well-loved brands include Carex, Childs Farm,
Cussons Baby, Imperial Leather, Morning Fresh, Original Source,
Premier, Sanctuary Spa and St. Tropez. Sustainability and the
wellbeing of our employees and communities everywhere are at the
heart of our business model and strategy and captured by our
purpose: For everyone, for life, for good.
