Soap maker PZ Cussons posted higher full-year profits as sales of hygiene products soared, but said first quarter sales had fallen against tough comparators during the height of the Covid pandemic.
The maker of Imperial Leather soap said revenue for the three months to August 28 fell 9% driven by a reduction in hygiene product sales. However, it expected revenue to return to growth in the second quarter and annual adjusted pre-tax earnings would be within guidance despite inflationary pressure, Cussons added.
For the year to May 31, adjusted profit before tax from continuing operations rose to £68.6m from £61.8m last year.
Revenue increased to £603.3m from £587.2m. A final dividend of 3.42p a share was declared, taking the total for the year to 6.09p each.
“The medium-term outlook remains in line with our expectations and we have confidence that our brand and market portfolio will emerge strongly once we cycle through the unprecedented demand for hygiene products at the start of the pandemic,” said chief executive Jonathan Myers.
