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PZ Cussons PLC on Thursday gave an upbeat trading update for its third financial quarter, boosted by revenue growth in Europe and the Americas.
PZ Cussons shares were 3.6% higher at 194.00 pence each in London on Thursday morning, putting it in the top three performers of the FTSE250.
The consumer products firm which produces Carex handwash said in the third quarter ended March 4, like-for-like revenue grew 6.2%, bringing quarterly revenue to £166.0 million. Its performance strengthened in Europe and the Americas, as expected, with a ‘marked improvement in profitability’.
Looking ahead, it expects adjusted pretax profit in financial 2023 to be ‘at least in line’ with current market estimates, citing Bloomberg consensus of £68.1 million, 2.3% higher than £66.6 million in the financial year that ended May 31, 2022.
‘We remain confident in delivering against FY23 expectations and that further strategic progress will be made in the balance of FY23 and into FY24,’ said Chief Executive Jonathan Myers.
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