PZ Cussons confident for FY

10th Jun 2010 07:37

Soap maker PZ Cussons said results for the year ended 31 May 2010 are expected to be in line with expectations despite deteriorating trading conditions in the UK.The UK trading environment remains competitive with a worsening consumer outlook, the group said but on a brighter note saw strong growth in its brands such as Imperial Leather, Carex, Original Source, Charles Worthington and The Sanctuary."The group's balance sheet remains healthy with a continued net funds position following strong cash generation in the year ended 31 May 2010," it said in a company statement.Poland performed well in the year, although the economic situation in Greece has resulted in difficult trading conditions, PZ Cussons explained. The group enjoyed a strong performance across Australia, Indonesia and The Middle East.In Nigeria trading during the last few months across Personal Care, Home Care, Electricals and Nutrition has been robust.The company also said its £39m investment programme to upgrade its Nigerian manufacturing and supply chain should be completed in the next few months.