Plus   Neg

PZ Cussons Backs FY19 Profit View; CFO Brandon Leigh Resigns - Quick Facts

PZ Cussons Plc. (PZC.L), a consumer products group, reported Thursday that its fiscal 2019 profit expectations remain in line with the guidance.

In its trading update for the year ended May 31, the company said profit before tax and exceptional items is expected to be close to 70 million pounds.

The results reflected a resilient performance in Europe and Asia driven by product innovation and renovation as well as distribution expansion. The beauty division performed particularly well.

Meanwhile, performance in Africa has continued to be disappointing as a result of the macro economic situation in Nigeria and the challenging conditions at the port.

The company plans to announce full-year results on July 23.

Separately, PZ Cussons announced that Brandon Leigh, Chief Financial Officer, has resigned and has stepped down from the Board with immediate effect.

Leigh has been with PZ Cussons for over 22 years. He was appointed to the Board in 2006.

Pending the appointment of a new Chief Financial Officer, Leigh's responsibilities will be assumed by Alan Bergin, currently Commercial Finance Director.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
Follow RTT