PZ Cussons Sees 2026 Profit Meeting or Exceeding Top End of Forecast Range
Financial Outlook and Key Developments
June 17 (Reuters) - British consumer goods firm PZ Cussons said on Wednesday it expects annual profit to meet its forecast or come slightly ahead of it, citing robust sales and the stabilisation of the Nigerian naira currency.
Profit Forecast and Performance
Here are some more details:
Profit Forecast Updates
• The maker of Imperial Leather soaps and Carex hand wash has now raised its profit forecast for the fourth time.
• The company expects 2026 adjusted operating profit at or slightly above the upper end of its forecast range of £53 million to £57 million ($71.12 million-$76.48 million).
Market Impact and Challenges
Nigerian Market and Currency Effects
• Nigeria is one of the Manchester-based company's four major markets. The naira's weakness has impacted PZ Cussons' profits since fiscal year 2024.
Cost Inflation and Geopolitical Risks
• Noting the potential impact of the conflict in the Middle East, PZ Cussons said it has already taken actions to offset a large majority of any cost inflation. The company did not specify what actions it took.
• Consumer goods companies have been grappling with rising manufacturing and energy costs and supply chain disruptions following the Iran war.
Strategic Actions and Revenue Growth
• PZ Cussons has been increasing prices and divesting non-core assets, supporting expectations of 6% like-for-like revenue growth and sales of £540 million in 2026.
Market Reaction
• Shares of the company were up 5.9% at 96.8 pence in early trade.
($1 = 0.7453 pound)
(Reporting by Simone Lobo in Bengaluru; Editing by Subhranshu Sahu)
