PZ Cussons says on track to deliver full year expectations


* Interim dividend up 2.3 percent to 2.67 penceper share

* Sterling profits only slightly lower at profit before tax and exceptionals of £40.2m (prior period £42.1m) despite a challenging macro environment

* Brand shares maintained or growing in all group’s major markets and categories

* Strong balance sheet with net debt at 1.5 x ebitda

* Liquidity in Nigeria remains poor with exchange rate continuing to weaken on both interbank and secondary markets

* Tough trading conditions in Australia across all categories with new product launches planned for second half of year to improve performance

* Robust performance in UK washing and bathing division with new product launches ensuring great shelf presence in a challenging trading environment

* “In this first half of 2017 financial year, group has faced a backdrop full of challenges across most of markets where we operate

* We remain on track to deliver our full year expectations.

* Board has increased interim dividend by 2.3 pct to 2.67p per share.”

* Revenue at £378.2m versus £385.9m

* Profit before tax at £40.2m versus £42.1m Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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