Nigeria economy takes its toll on PZ Cussons profits
Economic conditions in Nigeria took their toll on Manchester-based consumer products group PZ Cussons, the maker of soaps including Imperial Leather and Carex.
Announcing its final results for the year to May 31, it revealed revenues fell from £809.2m to £762.6m, while pre-tax profits dipped from £86.5m to £66.6m.
The group said its brand shares were maintained or growing in most of the group's major markets and categories, while a group-wide initiative is under way to strengthen brand portfolios and reduce its cost base.
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