PZ Cussons LFL revenues grow in FY25, sells stake in Nigerian JV
Consumer goods company said on Wednesday that like-for-like revenues were expected to have grown 8% in FY25, with reported revenues seen at roughly £505.0m.
PZ Cussons said its H2 performance was driven by continued strong revenue growth in Africa, given the inflationary macroeconomic environment in Nigeria.
Elsewhere, PZ's Asia-Pacific operations also returned to growth in H2, driven by strong revenue growth in Indonesia, while revenues from Australia and New Zealand, on the other hand, declined in "a soft market", and Europe and Americas revenue was flat in FY25.
Looking forward, the FTSE 250-listed group now expects FY25 adjusted operating profits to be between £52.0m and £55.0m, down from its previous guidance of £52.0m to £58.0m.
PZ Cussons also announced that it has sold its 50% equity stake in PZ Wilmar, its Nigerian edible oils joint venture, for $64.0m after taxes, fees and other costs.
Proceeds will be used to reduce gross debt and, as a result, "materially improve" key credit and bank covenant metrics. Completion was expected to take place in the last quarter of the 2025 calendar year.
Reporting by Iain Gilbert at Sharecast.com
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