PZ Cussons is on track as it shrugs off the recession

SOAP and shampoo maker PZ Cussons said yesterday it was on track to achieve its expectations for the full- year despite tough trading conditions in some of its territories and input costs now rising again.

The maker of Imperial Leather, Carex soap and Original Source products said its results for the period 27 January to 14 April were in line with management expectations. “The group’s balance sheet remains healthy with a net funds position and strong cash generation during the period,” said the firm, whose key markets are the UK, Australia, Indonesia and Nigeria.

The firm said UK revenue and profits continued to grow despite tough trading conditions in the supermarkets. PZ Cussons said its performance in Asia was strong, while in Nigeria liquidity was returning to the market following a financial squeeze earlier in the year caused by strengthening of controls in the banking sector.