PZ Cussons FY10 Profit Up 20% But Mkt Outlook Uncertain

27th Jul 2010 07:49

LONDON (Dow Jones)--Consumer products company PZ Cussons PLC (PZC.LN) Tuesday posted a 20% jump in fiscal 2010 pretax profit and said brand renovation programs should continue driving growth, especially overseas, although the consumer outlook in a number of its markets remains uncertain. PZ Cussons said it has significant brand renovation programs planned across Europe, Asia and Africa. However, it said it nonetheless remains conscious of the competitive trading environment and fragile consumer confidence, particularly in the U.K. and Greece. The firm, which makes products like Imperial Leather and Carex soaps and Original Source shower gels, said trading since its fiscal year end has been in line with its expectations. It made a pretax profit of GBP101.8 million in the year to May 31, compared with GBP84.4 million a year earlier, reflecting an improvement in operating performance. Sales fell to GBP771.6 million from GBP781.8 million a year earlier. Operating profit climbed to GBP101.4 million from GBP86.2 million with cost of sales down to GBP460.1 million from GBP490 million. The firm will pay a final dividend of 3.97 pence a share, compared with 4.085 pence a share a year earlier, giving a total dividend of 5.9 pence a share compared with 5.27 pence a share in the fiscal 2009. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] -0 (MORE TO FOLLOW) Dow Jones Newswires July 27, 2010 02:49 ET (06:49 GMT)