REG - PZ CUSSONS PLC - AGM Trading Statement

PZ CussonsAnnouncement

21/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241121:nRSU0439Na&default-theme=true

RNS Number : 0439N  PZ CUSSONS PLC  21 November 2024

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTKBLFLZFLZFBV