Cussons remains healthy

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In a trading update today (10 June) soap maker PZ Cussons said that its results for the year ended 31 May 2010 are anticipated to be in line with expectations and its balance sheet remained healthy.

In the UK, despite the trading environment remaining competitive and a worsening consumer outlook, an excellent pipeline of innovation has enabled strong profitable growth across the brand ranges of Imperial Leather, Carex, Original Source, Charles Worthington and The Sanctuary. Poland has performed well in the year, while the economic situation in Greece had resulted in difficult trading conditions. Effective brand renovation together with favourable market conditions has resulted in strong performance across Australia, Indonesia and The Middle East. In Nigeria, the political environment remained stable with the former Vice President now inaugurated as President ahead of elections scheduled for spring of next year. Economically, liquidity continued to improve and trading during the last few months across Personal Care, Home Care, Electricals and Nutrition hads been robust. Also in Nigeria, Project Unity, which is a £39 million investment in manufacturing and supply chain, is on track for completion within the next few months.