Swine flu retreat infects Cussons performance
1 min read
The retreat of swine flu and the Greek economic crisis have impacted the performance of upmarket soap maker Cussons although the company said it had enjoyed higher profitability in Asia.
In a trading update today (9 December) PZ Cussons said that results for the first half of the financial year had been in line with expectations, with profitability marginally ahead of the same period last year on broadly flat revenue.
The company said it had seen lower profits in Europe reflecting both a strong comparative period which included both high sales of its hand sanitizer Carex (pictured) in the UK following the swine flu outbreak and high export sales in Poland, together with the full effect of the Greek economic crisis now impacting performance. In Africa, the market remained tight and there had been some uncertainty ahead of the Nigerian presidential elections scheduled for Spring 2011.
In the UK, the trading environment remained very competitive with high levels of promotional activity continuing particularly on shower gel and handwash products.
Looking ahead, Cussons said it remained cautious about the trading environment for the remainder of the year.
