New products boost PZ Cussons

26th Jul 2011 11:26

Soapmaker PZ Cussons said new product launches have been helping it win market share in the UK as it reported a rise in profits for the year to 31 May.Pre-tax profits rose to £108.1m from £101.8m in the same period last year, on revenues that climbed to £820.7m from £771.6m.In Africa, source of most of the company's revenues, sales rose to £339.1m from £325.2m. Nigeria is benefitting from stability now following the re-election of the incumbent president, the company said, with high oil prices also giving the economy a boost. PZ Cussons sells personal and home care products and electrical items in Africa.Europe revenues rose to £305.5m from £280.8m, helped by product launches in Britain. The Carex and Original Source ranges have been extended, PZ Cussons said."Asian" revenues rose to £176.1m from £165.6m, with strength in Indonesia offsetting a subdued performance in Australia, where the consumer is coming under pressure.---RG