PZ Cussons’ Half-Year Sales Rise 1.3%

PZ Cussons reported that sales for the half year ended November 30, 2010 rose 1.3% to approximatelty $598 million.

“The Group has delivered a robust performance in the first half despite challenging trading conditions in a number of markets,” said Richard Harvey, chairman, at the release of the figures. “Continued renovation of our brand portfolio has played an important role in ensuring we can continue to trade competitively in the markets in which we operate.”

“Following completion of the Group’s major capital projects last year we have pressed ahead with new opportunities, including the £62.5 million acquisition of the St Tropez brand, whilst still remaining in a net funds position. Our balance sheet remains strong and we have the appetite to pursue further investment opportunities which fit our strategic aims. Whilst we remain cautious given continued challenging trading conditions and rising raw material prices, our outlook for the full year is broadly in line with expectations,” he continued.

According to the company, profitability in Europe was marginally lower than the same period last year reflecting a strong comparative period which included both high Carex sales in the UK following the swine flu outbreak and high export sales in Poland, higher levels of promotional activity and the full effect of the Greek economic crisis now impacting performance.

In addition, the firm said that the major relaunch of the Cussons Baby range in Indonesia is progressing well.