PZ Cussons profits jump 28%

26th Jan 2010 07:05

Soap manufacturer PZ Cussons managed to post a sharp rise in profits despite flat revenues in the year to November 30.Pre-tax profits climbed by 28% to £44.7m from £34.8m the previous year as revenues edged up to £369.9m from £367.2m.Performance was particularly strong in Europe, where revenues climbed to £148.7m from £145.8m, and operating profit jumped to £25m from £20.8m. The firm was helped by strong sales of Carex handwasg and Original Source bathroom products.'The group has delivered a strong performance in the first half despite the economic environment remaining fragile,' chairman Anthony Green said.'Investment in both our brand portfolio and our supply chain facilities has enabled us to deliver continued profitable growth in the short term as well as laying the foundations for longer term growth in all three regions in which we operate.'PZ Cussons also operates in Africa and Asia.It said the outlook is positive, with strength in Europe and Asia expected to offset weakness in Nigeria. 'Overall performance since the period end has been in line with expectations and we remain cautiously optimistic for the full year outturn,' the firm said.