PZ Cussons FY Pre-tax Profit Down

PZ Cussons Plc. (PZC.L), an international consumer products group, reported that its profit before taxation the year ended 31 May 2018 declined to 66.6 million pounds from 86.5 million pounds last year.

Profit attributable to Owners of the Parent for the year decreased to 47.7 million pounds or 11.41 pence per share from 62.4 million pounds or 14.91 pence per share in the prior year.

Revenue was 762.6 million pounds, down from 809.2 million pounds in the previous year.

The Board recommended a final dividend of 5.61 pence (2017: 5.61 pence) per share making a total of 8.28 pence (2017: 8.28 pence) per share for the year.

The company said, "Whilst we expect another challenging year ahead, the business is well placed to return to growth and consequently the Board has maintained the full year dividend."

The overall dividend remains approximately 1.6 times covered by adjusted earnings per share. Subject to approval at the AGM, the final dividend will be paid on 4 October 2018 to shareholders on the register at the close of business on 10 August 2018.

The company expects macro conditions to remain challenging in most of the markets in which we operate with general elections in Nigeria and Indonesia falling in the second half of the new financial year. Commodity costs and exchange rates are expected to remain volatile.

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