|
Successful year for soap-maker
|
29/07/2008
|
| |
Imperial Leather soap-maker PZ Cussons today (29 July) reported “another successful year” despite what it described as a challenging economy and significant hikes in input costs.
The consumer products group saw revenues for the year ended 31 May increase 14% to £661 million (£578m) while pre-tax profits were 13% better at £76.5 million (£68m).
Cussons said it had enjoyed a strong trading performance across all regions, particularly in Nigeria and that innovation and margin improvement programmes had successfully countered significant ongoing increases in raw material costs.
Chairman Anthony Green said 2008 had been another successful year for PZ Cussons with profitability being delivered on track despite the challenging economic environment and the significant increases in input costs.
He went on: "The diverse geographic spread of our businesses together with the growing number of categories in which we operate has demonstrated that we can successfully evolve both as markets develop and as economic conditions, both local and global, change.
“It is the strength of the group's balance sheet which enabled the acquisition of The Sanctuary brand and spa whilst still leaving us in a strong position. This will serve us well in the challenging global environment and still allow us the potential to pursue further investment opportunities.
"The creation of an 'Operational Board' during the year provides the senior management capability to press ahead with the significant number of opportunities that exist in our current markets.
"Overall performance since the year end has been in line with management expectations and we face the year with optimism, whilst at the same time remaining conscious of the external economic environment."
|
| |
Author
Ken Hurst
|
| |
| Email this article |
| |
|
|
|
|