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PZ Cussons Sees FY Profit Within Consensus Range

Consumer products group PZ Cussons Plc. (PZC.L) Thursday, in its third-quarter update, said its overall revenue in the quarter was lower than last year, and that it expects full-year profit to remain within consensus range, albeit at the lower end. The Group said the impact of Covid-19 pandemic across its businesses is significant, although very different across business unit and market.

In the UK, the group witnessed exceptionally high demand for its Carex hand wash and sanitiser gel products and Imperial Leather soap, while its Beauty business was severely impacted.

In Asia, the Group's Indonesian business continued to trade largely as normal with more demand for its hygiene related products. Australia experienced a recent spike in demand for Morning Fresh and Raffertys Garden as a result of the pandemic, but also saw a severe reduction in Beauty sales. The situation in Nigeria is uncertain, the Group added.

Given the current uncertain environment, the Group said it plans to issue its preliminary results for the full year ending 31 May 2020 in late summer, with a date to be confirmed in due course.

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