January 29, 2019 / 7:28 AM / 9 months ago

PZ Cussons sees lower full-year profit as Africa challenges mount

Jan 29 (Reuters) - Cosmetics and soap maker PZ Cussons Plc said on Tuesday it expected a sharp decline in pretax profit for the year ending May, hurt by sluggish demand and challenging conditions in its important Nigerian market.

The company said full-year adjusted pretax profit is now expected to be 70 million pounds ($92.1 million), down from 80.1 million pounds a year earlier. PZ Cussons also said adjusted pretax profit for the half year declined 1.5 percent to 32.8 million. ($1 = 0.7601 pounds) (Reporting by Sangameswaran S in Bengaluru; Editing by Gopakumar Warrier)

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