logo
Plus   Neg
Share
Email

PZ Cussons Sees Lower FY Revenue; CEO Alex Kanellis To Retire In January 2020

PZ Cussons Plc (PZC.L) said that it expects full year revenue and adjusted profit before tax to be modestly below the prior year on a like-for-like basis. A stronger second half is expected subject to no further worsening of the economic and trading environments across its key geographies.

The company also announced that Chief Executive Officer Alex Kanellis will retire from the company on 31 January 2020.

The company has initiated a search for Alex's successor, and expects to complete the process in the first half of 2020. Pending the appointment of the new Chief Executive Officer, Caroline Silver will become Executive Chair with effect from 1 February 2020. Alan Bergin will continue as interim Chief Financial Officer.

In its trading update for the half year ended 30 November 2019, PZ Cussons said that the challenging market conditions across key geographies led to a decline in first half revenue and operating profit compared with last year.

The company will announce its interim results for the half year ended 30 November 2019 on 28 January 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Moderna said Tuesday that it has reached an agreement with the U.S. to initially supply 100 million doses of its experimental vaccine for COVID-19, mRNA-1273. The U.S. government has awarded up to $1.525 billion for the vaccine. Las Vegas, Nevada-based Mr. Wok Foods has recalled about 200,000 pounds of meat and poultry products for misbranding and undeclared allergens, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The recalled products may contain known allergens such as milk, wheat, soy, peanuts, or oysters. They may also contain MSG, sesame products, or sulfites. The U.S. Food and Drug Administration approved the first oral drug to treat patients two months of age and older with spinal muscular atrophy (SMA) that can be taken at home. Roche subsidiary Genentech's Evrysdi (risdiplam) is also the second FDA-approved drug to treat this rare and often fatal genetic disease affecting muscle strength and movement.
Follow RTT