PZ Cussons Plc records profit growth of 455 per cent, hits N5.64 billion

PZ Cussons Plc has released its 9-month financial result that ended February 2022, revealing a profit of N5.64 billion.

The new profits represented a 455% increase from the prior-year period, as revenue grew by 24.27%.

The period in review witnessed a wave of increase in prices of goods and services, as inflationary pressures affected both consumers and producers. Similarly, producers were faced with a significant increase in the cost of raw materials and general production costs.

Although the company recorded growth in sales on the back of double-digit food inflation, bottom-line profit was greatly subdued by production costs which increased by a whopping 31% during the period under review.

The report shows that the that the company’s revenue in the Q3 period appreciated by 21.46% from N22.60 billion to N27.45 billion in the current period.

It was also revealed that profit growth for the third quarter period, was at 113.60% Q-o-Q, generating a total of N3.07 billion. While pre-tax profit stood at N3.31 billion, representing 92.89% growth quarter on quarter.

A further look at the financial results showed PZ Cussons’ total assets are now at N101.44 billion, net assets grew by 13.45% to N39.20 billion.

The company last traded at N9.30 per share and has grown by 52.46% from year to date.

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