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PZ Cussons lifts FY profit guidance, cites strong Africa growth
(Sharecast News) - Shares of PZ Cussons shot higher on Thursday after the Imperial Leather maker lifted its guidance for full-year adjusted operating profit, citing strong growth in Africa. In a statement ahead of its annual general meeting, the company said like-for-like revenue growth for the first half was expected to be around 9%.
"This primarily reflects growth of over 25% in Africa, driven by both price and volume with the majority of brands gaining share during the first half of the year," it said. Excluding Africa, LFL revenue growth was expected to be about 2%.
As a result, the company - which also makes Carex and Original Source, among others - lifted its FY26 adjusted operating profit guidance to between £50m and £55m, from £48m to £53m.
Adjusted operating profit is expected to be weighted towards the first half of the year, with an increase in marketing spend in the second half, it said.
Cussons also said the transaction to sell its 50% stake in PZ Wilmar remains on track to complete by the end of the calendar year.
At 0830 GMT, the shares were up 9.3% at 74.40p.
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