Tuesday preview: PZ Cussons unveils full-year results

22nd Jul 2013 13:39

Consumer products giant PZ Cussons will on Tuesday unleash its preliminary results for the full-year to end of March.Last month in a trading update, the company said its annual earnings were in line with expectations as it delivered a return to profitable growth for the year.Without providing any figures, the group reported an increase in revenue and profit across all three regions of Europe, Asia and Africa."The financial position of the group remains strong with good cash generation and only a small net debt position at the year end," the firm said in a statement at the time.In an effort to extend its reach, the group earlier this month announced the acquisition of Australian baby food brand Rafferty's Garden. The progress of the brand, which was bought for £42.2m, is likely to be highlighted in tomorrow's statement. Following the deal, Canaccord Genuity upgraded the company's stock to 'buy' from 'sell'.The broker said the acquisition combined with an uptick in the UK economy, deflation of raw material and the launch of palm oil brand Mamador in July, caused it to raise its forecasts modestly.Last year the maker of Imperial Leather soap issued profit warning amid violence in Nigeria and a cut in fuel subsidy. Nigeria is PZ Cussons' biggest market.Since then, Canaccord said its confidence in the outlook for Nigeria was looking up."We believe the worst is behind us in Nigeria, with inflation easing and a full removal of the fuel subsidy unlikely in the near term; in the UK the economy is rebounding and consumer confidence is steadily improving," the analyst said.Sharing the spotlight in company news tomorrow will be fellow FTSE 250 companies Carpetright and Beazley Group which report their latest results. Also worth noting, is the release of BBA Mortgage Lending figures in the UK.Tuesday July 23thINTERIMSBeazley, Premier Foods, Provident Financial, CarpetrightINTERIM DIVIDEND PAYMENT DATECoca-Cola HBC AG (CDI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Confidence Indicator (EU) (10:00)House Price Index (US) (15:00)FINALSIG Group Holdings, PZ CussonsANNUAL REPORTIG Group HoldingsIMSSProvident FinancialEGMSCentral Asia MetalsAGMSAstar Minerals, Bloomsbury Publishing, Chaarat Gold Holdings Ltd. (DI), Eco City Vehicles, HICL Infrastructure Company Ltd, Hogg Robinson Group, Hotel Corporation (The), Red Leopard Holdings, Scapa Group, TR Property Inv Trust, Tri-Star Resources , Tri-Star Resources , Vodafone Group, VPUK ECONOMIC ANNOUNCEMENTSBBA Mortgage Lending Figures (09:30)RD