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BRIEF-PZ Cussons says remains on track to deliver FY growth in operating profits
September 27, 2017 / 6:13 AM / 22 days ago

BRIEF-PZ Cussons says remains on track to deliver FY growth in operating profits

Sept 27 (Reuters) - PZ CUSSONS PLC:

* “DESPITE TOUGH TRADING CONDITIONS IN MOST MARKETS WHICH HAVE BEEN EVIDENT IN Q1 AND WHICH ARE EXPECTED TO CONTINUE FOR FULL YEAR”

* “REMAINS ON TRACK TO DELIVER FULL YEAR GROWTH IN OPERATING PROFITS”

* PZ CUSSONS - IN NIGERIA, NAIRA HAS BEEN STABLE AGAINST US DOLLAR ON INTERBANK MARKET AND HAS STRENGTHENED SLIGHTLY ON SECONDARY MARKET AS A RESULT OF IMPROVED DOLLAR LIQUIDITY LEVELS

* HOWEVER, NAIRA CREDIT AVAILABILITY IN TRADE HAS TIGHTENED IN RECENT MONTHS AND ENVIRONMENT FOR CONSUMERS REMAINS CHALLENGING FOLLOWING VERY SIGNIFICANT COST INFLATION OF RECENT YEARS

* IN NIGERIA, RECENT PERFORMANCE IN PERSONAL CARE AND HOME CARE AND IN PZ WILMAR JOINT VENTURE HAS BEEN ROBUST

* “IN UK, IT IS INCREASINGLY CLEAR THAT CONSUMERS ARE SHOPPING CAUTIOUSLY REFLECTING GENERAL COST INFLATION OUTSTRIPPING WAGE GROWTH, AND BROADER ECONOMIC UNCERTAINTY”

* IN AUSTRALIA, THERE HAS BEEN AN IMPROVED PERFORMANCE ACROSS ALL CATEGORIES OF PERSONAL CARE, HOME CARE AND FOOD & NUTRITION

* “NUMBER OF INITIATIVES ACROSS NIGERIA BUSINESS, INCLUDING DISTRIBUTION EXPANSION AND NEW PRODUCT LAUNCHES, ARE PLANNED FOR REMAINDER OF YEAR” Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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