PZ Cussons Nig Plc posts profit of N758.37 million

Top conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022, reporting a profit of N758.37 million, representing an 11.71% increase year on year.

The company’s performance comes after a year of high inflation, during which consumers and businesses both had to contend with the rising cost of products and services. As a result, buyers now pay more for the same amount of goods.

PZ makes money when it sells household and personal/body care products, as well as electrical items such as air conditioners, amongst others. The company also makes money from scrap sales and rental income, not excluding profit from disposal and impairment of fixed assets.

Q4 Results continue with growth trends
A cursory view of the result reveals the company’s profit was driven by a significant rise in the company’s main business segments – the sale of home and personal care products and durable electrical appliances.

These segments delivered revenue of N25.50 billion during the period compared to N22.60 billion in the same period last year. Revenue growth from the segments was at 12.85% year on year.