Investor Alert

Jan. 26, 2021, 2:23 a.m. EST

PZ Cussons profit falls on higher costs

By Matteo Castia

PZ Cussons PLC reported Tuesday a slight fall in pretax profit for the first half of fiscal 2021 as costs rose.

The consumer-goods company, which houses the Imperial Leather soap brand and Morning Fresh washing-up detergent, made a pretax profit of 36.3 million pounds ($49.6 million) for the six months ended Nov. 30 compared with GBP36.8 million for the year-earlier period.

The company said this was due to the profit on disposal of its Greek business boosting the prior year's comparable, while this year's figure was hurt by exceptional costs primarily related to its Nigerian business.

Revenue rose to GBP312.9 million from GBP284.0 million a year earlier. However, cost of sales, administrative expenses and distribution costs rose too.

The board declared an interim dividend of 2.67 pence, flat on the year.

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