Results 

PZ Cussons slips on Nigeria trouble

PZ Cussons slips on Nigeria trouble

"Extremely challenging" market conditions in Nigeria drove down first-half profits by a fifth at consumer goods group PZ Cussons (PZC), which means full-year profits will fall short of management's – and analysts' – expectations. Company bosses now expect adjusted pre-tax profits of £70m for the year ending 31 May 2019, prompting broker Investec to apply a 12.5 per cent cut to its previous forecast. Analysts there now expect pre-tax profits of £70m, giving EPS of 12.3p, down from £80.1m and 13.4p in FY2018.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now