PZ Cussons' quarterly results driven by product launches

25th Sep 2013 07:24

Consumer products company PZ Cussons said its results for the last quarter were in line with expectations.In a trading update for three months ended September 24th, the group reported a strong performance driven by the launch of new products and brand extensions. The company re-launched its Imperial Leather brand in the UK with new imagery including a new fragrance selection across its Foamburst shower range. Cussons Mum & Me, a range of products for mothers and babies, was extended with a new items for young children under the Little Explorers sub-brand.In the beauty division, all four brands had strong sales with St Tropez boosted by the appointment of Kate Moss as brand ambassador at the start of the summer. Further new product launches for both UK and international markets are planned for the remainder of the calendar year.In Asia, the firm has seen positive momentum in Indonesia across the babycare and non-babycare ranges, but a weakening of the rupiah hurt results.Likewise in Australia, a weakening of the Australian dollar affected results despite a robust performance in Home Care and Personal Care. Rafferty's Garden, the Australian baby food business purchased in early July, traded in line with management expectations. Plans for international expansion of the brand are being developed.Despite unrest in Nigeria, the upbeat momentum in the second half of last year continued into the first quarter - a traditionally low season in the country. New product launches are also planned over the coming months across all categories. The palm oil refinery, constructed as part of the joint venture with Wilmar, continued to increase production levels on a monthly basis. A new consumer brand, Mamador, was launched during the quarter with products in multiple sizes and formats."Whilst the trading environment in most markets remains challenging, brand renovation and innovation is driving organic growth across the group, enhanced by the acquisition of Rafferty's Garden," the company said.RD