PZ Cussons declares N5bn profit

 …As shareholders get N2.4bn dividend

Paterson Zochonis Cussons, popularly known as PZ Cus­sons, has declared a total dividend of N2.4 billion and 61 kobo per share from a profit after tax of N5,082,747.

Making the declaration in Abuja, its Chairman, Prof. Emmanuel Edozien, said the 61 kobo per share is beside the interim divi­dend of 20 kobo per share that was paid to sharehold­ers last February.

The chairman said the company made the profit despite the company’s poor showing in the North East following the insecu­rity challenge in the area. He noted that PZ Cussons was able to break even be­cause other products of the company are doing well in other parts of the country. However, he explained that the workers who are still in the war-prone area are be­ing taken care of.

The product, which, he said, performed well in the market within the period under review was the per­sonal care brand.

“The personal care business was driven by personal wash, beauty, medicaments and mother and baby categories. We maintained our leadership position in the toilet soap segment with Premier, Joy and Imperial Leather. Our Premier range, especially Cool Deo, is growing rap­idly and it is driving our market leadership. The Robb range also remained the market leader of the medicaments segment with the Hot Robb variant accelerating our growth in the hot ointment segment. Our range extension into gift packs with Cussons Baby is driving growth and leading our challenge for leadership of the baby category. Cussons Baby soap remains the market leader in the baby soap segment,” he said.

Edozien was optimistic that the company would meet its target as it contin­ues to invest in strengthen­ing the supply chain and improving the operational  efficiency and consumer experience while minimis­ing the cost base.

“The detergent and soap manufacturing pro­cesses have been further improved to drive efficien­cies and meet the increas­ing demands for these products. These initiatives plus other investments to optimise the supply chain and overall overheads will ensure a flexible and com­petitive cost structure for the company going for­ward,” the chairman told the shareholders.

Source : SunOnline

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