News Column

Improved margins lift profits at Cussons

July 30, 2014

IMPERIAL Leather soap-maker PZ Cussons has posted a seven per cent rise in pre-tax profits to pound(s)115 million in the year to May 31 as better margins offset sterling strength, which knocked around pound(s)12 million off its profits.

The Manchester-based company said its entry into new areas such as Australian baby food business Rafferty's Garden, which it bought in 2013, would boost growth in the new financial year.

It also expects revenue in Africa, which was flat last year, to rise about 10 per cent in the current financial year.

It said it will be helped by the sale of cooking oil from its new joint venture with Wilmar International in Nigeria.

Africa made up around 42 per cent of the pound(s)861.4 million of group revenue booked in the 12 months to May 31.

The company, which also sells Carex handwash, Charles Worthington shampoos and St Tropez spray tan, declined to give any details about its plans to cut costs.

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Source: Herald, The (Scotland)

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