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PZ Cussons H1 Pretax Profit Rises; Revenue Down 4.3% - Quick Facts

PZ Cussons Plc (PZC.L) reported profit before tax from continuing operations of 34.7 million pounds for the six months ended 30 November 2019, up 34.5% from prior year driven by exceptional profit on disposal of business in Greece and lower exceptional charges than in the prior period. Earnings per share was 7.10 pence compared to 4.57 pence, growth of 55.4%, largely driven by the impact of exceptional items. Adjusted profit before tax from continuing operations was 28.0 million pounds compared to 31.8 million pounds. Adjusted basic earnings per share was 5.33 pence compared to 5.67 pence.

For the first-half, revenue from continuing operations declined 3.1% to 293.3 million pounds. The Group said the challenging market conditions across key geographies led to a decline in Group revenue of 4.3% in constant currency.

Looking forward, PZ Cussons Plc projects full year revenue and profit before tax from continuing operations to be modestly below prior year.

The Board has maintained the interim dividend in line with last year at 2.67 pence per share.

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