PZ Cussons reports stronger operating profit in latest quarter

PZ Cussons recorded revenue of N260.46 billion in the first quarter of its 2027 financial year, according to unaudited results released by the company. The company said the figure represented a 10 per cent increase compared with the corresponding period cited in its results. Cost of sales rose by 5 per cent to N45.06 billion, from N43.11 billion in the comparable period.

Gross profit increased by 24 per cent, reaching N19.78 billion from N15.90 billion. The company secretary, Oghenekevwe Ogefere, said operating profit rose to N8.54 billion from N5.85 billion in the corresponding period of the previous financial year. Ogefere attributed the operating improvement to a favourable combination of volume and pricing, as well as the strength of PZ Cussons’ brands in their respective categories.

She said the results reflected the group’s focus on sustainable revenue growth, operational efficiency and improving the underlying performance of the business. Profit before tax was N9.09 billion, while profit after tax stood at N4.63 billion. Both figures were lower than in the comparable period, which included N15.74 billion in non-recurring gains.

The group recorded N0.51 billion in non-recurring gains in the latest quarter. The company said gross margin nevertheless improved to about 30.5 per cent, compared with 26.9 per cent a year earlier. PZ Cussons manufactures personal healthcare products and consumer goods.

Ogefere said the company remained focused on maintaining revenue growth, improving operating performance and creating long-term value for stakeholders. The results were described as unaudited, meaning the figures remain subject to the company’s reporting and verification processes. The source material did not provide further detail on the performance of individual product categories or markets.