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Share Price:
Down 195.80p
Change Today:
-3.00p
Market Cap:
839.44m
Sector:
Personal Goods

PZ Cussons cleans up in third quarter

By Abigail Townsend

Date: Tuesday 27 Apr 2021

LONDON (ShareCast) - (Sharecast News) - PZ Cussons reported a 5% jump in quarterly revenues on Monday, fuelled by strong demand for core hygiene brands such as Carex and Morning Fresh.

Updating on third-quarter trading, the FTSE 250 firm said revenues in the three months to 27 February had grown 4.7%, to 145.3m, with all regions reporting year-on-year rises in both sales and profits.

Its core Must Win brands underpinned the group performance, after sales rose 12%. "Carex in the UK and Morning Fresh in Australia and Nigeria performed strongly, with both brands continuing to meet the evolving hygiene needs of our customers," PZ Cussons noted.

Looking to the current quarter, the firm - which also owns Sanctuary Spa, Imperial Leather, Original Source and St Tropez - said it remained on track to meet market expectations for the full-year.

Jonathan Myers, chief executive, said: "In the final quarter of this current financial year, we intend to continue increasing investment behind building our brands and capabilities to maintain momentum as we move to more normal comparatives.

"We will continue to proactively navigate the volatility of the pandemic, the competitive landscape and commodity cost headwinds, but at the same time remain focused on executing the initial phase of our new strategy."

Shore Capital, which has a 'hold' recommendation on the stock, called the trading update "encouraging".

It added: "PZ Cussons is a business with a strong stable of brands across its markets - UK, Australia, Indonesia and Nigeria - that is engaged in a turnaround after an extended period of under-investment.

"Early progress has been very strong, in the main aided by Covid tailwinds, although we expect headline sales figures to come under pressure through the fourth quarter and first quarter of the 2022 full year, as the group facings trading icebergs presented by the initial Covid-driven lockdowns in Spring 2021."

As at 1100 GMT, shares in PZ Cussons were flat at 268.7p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PZ Cussons Market Data

Currency UK Pounds
Price 195.80p
Change Today -3.00p
52 Week High 274.50p
52 Week Low 194.20p
Volume 408,622
Shares Issued 428.73m
Market Cap 839.44m
Beta 0.40

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PZ Cussons Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Oct-21 11-Feb-21
Paid 30-Nov-21 01-Apr-21
Amount 3.42p 2.67p

Trades for 26-Nov-2021

Time Volume / Share Price
16:49 5,008 @ 195.80p
16:35 64,894 @ 195.80p
16:34 9,235 @ 194.45p
16:29 50 @ 194.40p
16:29 38 @ 194.40p

PZ Cussons Key Personnel

CFO Sarah Pollard