Look at those results today.Superbly run business, funding good growth from own cash generation. Regular increases in dividend. Have held for many years within PEP - not one to double overnight, but IMO one for serious investors to lock away for the long term. 10 for 1 share split may help marketability going forward.Always DYOR etc.

Well so far so good as regards bouncing of 300.0 support. Will it climb?

zzzzzz zzzzzz zzzzzz, wake me up when it's all over!

Interim Management Statement

Thanks skinny.

This is one weird stock, stop to 310.0 to lock in 6.3 on the spreads. Volume abysmal 49K. Full year divi payment 01st Oct.

Stop to 315.0 to lock in 11.3 back to bed on nights.

Half Yearly Report

HIGHLIGHTS

Group

· Operating profit growth of 13% driven in particular by improved performance in Australia and a robust performance in UK
· Revenue flat comprising growth in Europe and Asia, offset by decline in Africa as a result of tough trading conditions, particularly in Nigeria
· Strong balance sheet with only small net debt position at period end
· Interim dividend raised 5.4% to 2.35p per share reflecting confidence in the future

Africa

· Revenue and profits slightly lower in Nigeria as a result of impact of social unrest in the north, flooding in a number of states and impact from fuel duty subsidy reduction earlier in the year
· Construction of the palm oil refinery in Nigeria now complete with commissioning underway

Asia

· Continued positive momentum in Indonesia with revenue from the market leading Cussons Baby range ahead of the prior period
· A return to profitability in Australia with business improvement measures now successfully implemented

Europe

· Robust performance in UK Washing and Bathing division across Imperial Leather, Carex and Original Source
· Significant investment in launch of Cussons Mum & Me with encouraging early rates of sale
· Beauty division revenue and profitability ahead of the prior period with continued growth of Sanctuary and newly acquired Fudge hair-care brand performing well
· Strong performance in Poland, whilst conditions in Greece resulted in lower profitability

Interim management Statement

Overview of financial performance and position

The board is pleased to announce that the performance of the Group during the period has been in line with management expectations. The financial position of the Group remains strong with cash generation during the period also in line with expectations.

Trading Update

Europe

In the UK washing and bathing division, the core brands of Imperial Leather, Carex and Original Source have performed well despite intense promotional activity in the trade and a challenging consumer environment. Sales of Cussons Mum & Me, the new range of products for mother and baby, have been very encouraging with sales rates building on a monthly basis.

The beauty division has performed well in the period with growth in international markets compensating for a tougher trading environment in the UK. Sales of St Tropez in the US have continued to grow and, during the period, the brand has been launched into further export markets including Poland and Germany.

The Group's performance in Poland has been strong in both homecare and personal care. As announced in February, contracts have been exchanged for the sale of the homecare brands for £46.6 million in cash with merger control clearance anticipated within the next five months.

Trading in the Group's smaller Greek business remains difficult as a result of the wider economic backdrop.

Asia

Whilst trading conditions in Australia remain challenging, the business has now moved firmly back into profitability with both the homecare and personal care portfolios performing well.

Continued positive momentum in Indonesia has delivered another period of revenue growth although a weaker rupiah and high wage inflation have limited the growth in profitability. Wider distribution of the Indonesian brand portfolio into the Philippines and Myanmar has gained momentum during the period, with a launch of the Cussons Baby brand planned for Vietnam in the coming months.

Overall trading in the smaller territories of Thailand and the Middle East has been in line with expectations.

Africa

In Nigeria, whilst unrest in the North of the country has continued to affect sales, the trading environment in the rest of the country has been more robust with no further fuel duty related impact taking place during the period.

Construction of the palm oil refinery with Wilmar in Nigeria has now been completed on time and to budget and production commenced in the period. Sales of bulk oil have already begun and the new consumer food ingredients brand will be launched in June.

Performance in the smaller territories of Ghana and Kenya has been in line with expectations.

Full year outlook

We continue to face challenging trading conditions in most of the markets we operate in with consumer disposable income remaining under pressure.

In the Group's largest market Nigeria, social unrest in the north continues, and whilst the environment in the rest of the country is calmer, the potential for removal of the remainder of the fuel subsidy remains.

Against this backdrop, the Group continues its focus on brand innovation and renovation in all markets as well as cost optimisation in all areas of the business. Results are expected to be in line with management expectations delivering a return to profitable growth for the year.

A further trading update will be made on 13th June 2013 after the close of the financial year.

ENDS

Trading Update

Trading Update

Europe

In the UK washing and bathing division, an ongoing programme of new product development has ensured that the core brands of Imperial Leather, Carex and Original Source have continued to perform well despite intense promotional activity in the trade and a challenging consumer environment. Cussons Mum & Me, the new range of products for mother and baby, has seen sales rates continuing to build as new customers are attracted to the brand.

In the beauty division, growth has been achieved in existing markets through new product launches and expansion into new distribution channels, as well as entry into new overseas markets such as Poland, Germany and Canada. Last month the division announced the appointment of Kate Moss as the new face and body of St Tropez. Sales rates have already responded positively following an extensive PR campaign both in the UK and overseas and the roll out of new in-store imagery. Last month also saw the launch of a new range of products under the Sanctuary Active Reverse range with Darcey Bussell continuing as brand ambassador.

The Group's performance in Poland remains strong in both homecare and personal care. As announced in February, contracts have been exchanged for the sale of the homecare brands for £46.6 million in cash with merger control clearance anticipated within the next three months.

Despite the difficult external environment our small Greek business remains profitable, although at lower levels than the previous year.

Asia

The Australian business has now moved firmly back into profitability following the successful restructuring of the business last year. Both the homecare and personal care portfolios are performing well despite the tough trading environment.

The Indonesia business has delivered another year of double digit revenue growth although a weaker rupiah and high wage inflation have limited the growth in profitability. Revenue growth has been achieved in both the babycare and non babycare portfolios as well as through wider distribution into new markets such as the Philippines, Myanmar and Vietnam.

Overall trading in the smaller territories of Thailand and the Middle East has been in line with expectations.

Africa

In Nigeria, unrest in the North of the country has continued with both domestic sales and exports being affected during the peak trading season. Nevertheless, the trading environment in the rest of the country has been more robust with no further fuel duty related impact taking place, resulting in an overall increase in sales in the second half of the year.

The new palm oil refinery, which has recently been commissioned as part of the joint venture with Wilmar, continues to increase production levels on a monthly basis and is operating well. The oil is currently being sold in bulk format to commercial customers. Product sales of consumer packaged oil in tamper proof bottles and sachets will commence in July under a new consumer brand.

Performance in the smaller territories of Ghana and Kenya has been in line with expectations.

Outlook

Across the Group, the focus remains on driving revenue growth through brand innovation and renovation, so that our brands continue to stand out successfully in the tough trading environments that exist in most of the markets that we operate in.

At the same time, margin improvement initiatives will continue in all areas of the business. The benefit of these will enable further investment to be made in new product development and brand support whilst continuing to deliver a sustainable growth in profitability.

Preliminary results

Preliminary results for the year ended 31 May 2013 will be announced on Tuesday 23 July 2013.

An analyst presentation will be given at 9:30am on that day at the offices of Panmure Gordon, One New Change, London, EC4M 9AF.

- ENDS -

Final Results

Highlights

Group
· A return to profitable growth with a 16% increase in operating profits to £108.4m
· Revenue and profit growth in all regions of Africa, Asia and Europe
· Post year end announcement of the acquisition of Australian baby food brand Rafferty's Garden for £42.2m in cash
· Commissioning of the palm oil refinery in Nigeria as part of the joint venture with Wilmar with a new consumer brand being launched
· Exchange of contracts for the sale of the Polish Home Care brands for £46.6m with completion expected shortly
· Supply chain optimisation project announced last year on budget and almost complete
· Group structure and systems project under way to optimise the Group's organisation design and IT systems for the future
· A return to a net funds position following strong cash flow from operations
· Total dividend increased 10% year on year marking the 40th anniversary of consecutive year on year increases

Africa
· Increase in revenue in second half despite ongoing unrest in northern Nigeria
· Improvement in operating profits as a result of margin improvement projects and lower raw material costs
· Launch planned post period end of a new consumer brand, as part of the joint venture with Wilmar

Asia
· Another year of double digit revenue growth in Indonesia with growth in both the babycare and non-babycare portfolios
· Wider distribution achieved in Philippines, Myanmar and Vietnam
· A return to profitability in Australia following the successful restructuring of the business

Europe
· Increase in profitability in the UK Washing and Bathing division driven by new product launches and despite tough trading conditions
· Strong performance in the Beauty division with expansion into new markets of Poland, Germany and Canada
· Polish business performing well in both Personal Care and Home Care

Interim management Statement

PZ Cussons Plc, a leading international consumer products group, today issues the following interim management statement which covers the period 1 June 2013 to 24 September 2013, in advance of its Annual General Meeting, to be held at 10:30 today.

Overview of financial performance and position

The board is pleased to announce that the performance of the Group during the period has been in line with management expectations. The financial position of the Group remains strong with cash generation during the period also in line with management expectations.

Trading Update

Europe

In the UK, trading in the washing and bathing division has been robust with new product launches proving successful. During the quarter, Imperial Leather has been relaunched with new imagery including a new fragrance selection across its premium Foamburst shower range. Cussons Mum & Me, the range of products for mothers and babies, has been extended with a new range of products for young children under the 'Little Explorers' sub-brand.

In the beauty division, all four brands have performed well with St Tropez being 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 during the remainder of the calendar year.

In Poland, performance has been strong both in Home Care and Personal Care. Merger control clearance for the sale of the Home Care brands is anticipated shortly. Trading in Greece has been at similar levels to the prior year.

Asia

The positive momentum in Indonesia has continued across the babycare and non-babycare ranges, although further weakening of the rupiah is impacting results.

Similarly in Australia, whilst performance in Home Care and Personal Care has been robust, the weakening of the Australian dollar is also impacting results.

Rafferty's Garden, the Australian baby food business purchased in early July, is performing well and in line with management expectations. Plans for international expansion of the brand are already being developed.

Africa

In Nigeria, despite unrest continuing in the north, the positive growth momentum seen in the second half of last year has continued into the first quarter which is 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, continues 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.

Directors

Simon Heale, who has served on the board as a non-executive director since January 2008, has indicated his intention to retire with effect from the expiry of his current three year term of office on 31 December 2013. The board thanks him for the significant contribution which he has made to the business over the past six years.

Outlook

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.

Margin improvement projects also continue in all markets whilst raw material costs remain broadly flat.

A further trading update will be made on 11 December 2013.

PZ Cussons Nigeria Q1 pre-tax profit up 50 pct

LAGOS | Mon Oct 21, 2013 1:17pm BST
Oct 21 (Reuters) - PZ Cussons Nigeria, a unit of the UK-based soap and shampoo maker, said on Monday its first quarter pre-tax profit to August increased by half to 1.26 billion nigerian naira ($7.88 million), from 843.83 million naira a year ago.

Revenue also rose to 15.06 billion naira, compared with 14.39 billion naira in the same period a year ago, the company said in a filing with the Nigerian Stock Exchange.

PZ Cussons said the report covers the period from June to August 2013. Nigeria, Africa's most populous country, accounts for around a third of PZ Cussons' total revenue.

Trading Update

First half trading

The board is pleased to announce that the overall performance of the Group for the first half of the year has been in line with management expectations.

Revenue and operating profit respectively were 4% and 6% higher than the comparative period with performance in Africa and Europe offsetting the impact of weakening in Asian currencies. Excluding the impact of exchange rates, revenue and operating profit were 6% and 8% higher.

The financial position of the Group remains strong with cash generation during the period also in line with expectations.

Trading - Update

Europe

In the UK, performance in the washing and bathing division has been robust with new product launches key to attracting consumers and helping to differentiate our brands in a competitive trading environment. A highlight during the period has been the relaunch of the premium Imperial Leather Foamburst shower range with new imagery and fragrances.

All four brands in the beauty division have performed well. St Tropez, in particular, has benefited from the appointment of Kate Moss at the start of the summer and has seen distribution expand further in overseas markets.

Performance in Poland has been strong in both Home Care and Personal Care. Merger control clearance for the sale of the Home Care brands is in its final review stage and we await a decision as to whether clearance will be granted.

Greece has performed well with growth being achieved versus the comparative period.

Asia

Underlying performance in the Australian Home Care and Personal Care portfolios has been good with the key Morning Fresh and Radiant brands performing well. Rafferty's Garden, the Australian baby food business purchased in July, has also performed well and plans for international expansion continue to be developed. Both businesses have been impacted by higher input costs as a result of the significant weakening in the Australian dollar which has also reduced results on conversion to sterling.

In Indonesia, the market leading Cussons Baby range has continued to deliver double digit local currency revenue growth albeit at a lower rate as a result of the slowing macro environment. Similarly, results have been affected on conversion by the significant weakening in the rupiah. Further progress has been made in the period with the expansion of the Asian brand portfolio into neighbouring geographies.

Africa

At a macro level, high interest rates in Nigeria have helped maintain the stability of the naira to US dollar exchange rate, although this has resulted in liquidity levels in the market remaining tight. In the north of the country the trading environment has slightly improved despite ongoing disruption. Overall, the positive growth momentum seen in the second half of last year has continued into the first half, supported by significant new product launches across the Personal Care, Home Care and Electricals portfolios.

Nutricima, the nutritional beverage joint venture with Glanbia, has seen strong revenue growth although higher milk costs are impacting profitability.

The palm oil refinery, constructed as part of the joint venture with Wilmar, has continued to increase production levels on a monthly basis since commissioning in January. Mamador, the new premium edible oils brand launched in August in multiple sizes and formats, is growing well with positive consumer reaction. A second brand, Devon Kings, has also been launched to capture the rapidly growing economy segment of the market. The remaining output is being sold in bulk format to business customers. The total business moved into monthly profitability at the end of the period.

Revenue in Ghana and Kenya is ahead of the prior period although the Ghana results have been impacted by the significant weakening in the cedi.

Full year outlook

The trading environment in most markets remains challenging, and in particular in Asia as a result of ongoing currency weakness. Despite this, brand renovation and innovation continues to drive organic revenue and profit growth across the Group.

Interim Announcement

Interim results for the half year to 30 November 2013 will be announced on Tuesday 21st January 2014.

An analysts' presentation will be given at 10:00am on that day at the offices of Panmure Gordon, One New Change, London EC4M 9AF.

ENDS

Half Yearly Report

HIGHLIGHTS

Group
· Revenue and operating profit growth of 4% and 6% respectively despite the impact of weakening Asian currencies
· Excluding the impact of exchange rates, revenue and operating profit 6% and 8% higher
· Rafferty's Garden acquisition completed in the period for £42.2m in cash and performing well
· Strong balance sheet with a small net debt position following the Rafferty's acquisition
· Interim dividend raised to 2.53p representing a 7.7% increase

Africa
· Revenue and operating profit growth in Nigeria across all categories
· Trading environment slightly improved in the north of Nigeria despite ongoing disruption
· New brands Mamador and Devon King's launched in the period as part of the palm oil joint venture with Wilmar which is performing well
Asia
· Underlying performance in Australia and Indonesia strong despite significant weakening in exchange rates
· Continued expansion during the period of the Asian brand portfolio into neighbouring geographies

Europe
· Robust performance in UK Washing and Bathing division with new product launches key to attracting consumers
· All four brands in the Beauty division have seen good progress, and in particular St Tropez which has benefited from the appointment of Kate Moss as brand ambassador at the start of summer
· Strong performance in Poland in both Home Care and Personal Care
· Encouraging performance in Greece with growth in both revenue and profitability

Interim Management Statement

Trading Update

Investec Hold 356.50 376.00 378.00 Retains

Numis Hold 356.50 364.00 352.00 Reiterates

Canaccord Genuity Buy 356.50 440.00 440.00 Reiterates

Final Results

Highlights

Group
· Revenue growth in constant currency of 2% on prior year; in addition JV revenue increasing by £172m
· Operating profit growth of 7% despite the impact of weakening currencies
· Excluding the impact of exchange rates, operating profit would have been 18% higher than prior year
· Rafferty's Garden acquisition completed early in the year for £42.2m in cash
· Disposal of Polish Home Care brands completed in February for £46.6m in cash
· Strong balance sheet with only a small net debt position at the end of the year
· Total dividend increased 5% year on year being the 41st year of consecutive year on year increases

Africa
· Operating profit growth in Nigeria despite increased levels of disruption in the north of the country
· Revenue of African Food and Nutrition joint ventures reaches £260m
· PZ Wilmar joint venture performing well with refinery operating close to capacity
· Good revenue and profitability growth achieved in the Nutricima joint venture with Glanbia

Asia
· Revenue and profit growth achieved despite the significant impact of weakening currencies
· Underlying performance in key markets of Australia and Indonesia strong
· Rafferty's Garden acquisition marked the Group's entry into Food and Nutrition in Asia

Europe
· Strong performance in UK Washing and Bathing division with all four brands performing well
· Major relaunch of Imperial Leather range post year end
· St Tropez demand continues to be boosted by Kate Moss as brand ambassador
· Good performance in smaller markets of Poland and Greece

StockMarketWire.com
PZ Cussons said whilst trading conditions in most markets remain challenging, the group remains focussed on a dynamic and fast brand renovation and innovation programme, an ongoing cost reduction programme and successful delivery of new areas of growth such as Rafferty's Garden, Five:AM and the PZ Wilmar joint venture.

"These initiatives will help to offset the continuing macro challenges, including foreign exchange and raw material volatility, and the reduction in profits from Poland as a result of last year's Home Care brands sale," the company said in an IMS for the period June 1 to Sept. 22.

"The board is pleased to announce that the performance of the Group during the period has been in line with management expectations. The financial position of the Group remains strong with cash generation during the period also in line with management expectations."

EUROPE
In the UK, performance in the washing and bathing division has been strong despite challenging trading conditions, driven by an exciting innovation pipeline including the relaunch of the entire Imperial Leather range during the period.

The beauty division has performed well across its key markets of UK, US and Australia, with St Tropez's performance continuing to be boosted by Kate Moss as brand ambassador.

Performance in the smaller markets of Poland and Greece has been in line with expectations.

ASIA
In Indonesia, good progress has been made in expanding the babycare portfolio as well as building non-babycare brands such as Original Source.

Performance in Australia has been good across the categories of Home Care, Personal Care, Beauty and Food & Nutrition. The acquisition of Australian food brand 5:AM, which completed in early August for £44.1m in cash, has shown pleasing performance to date with growth in line with expectations. The international expansion of Rafferty's Garden, acquired last year, will commence shortly with the launch of the range into the New Zealand market.

Trading in Thailand and the Middle East has also been in line with expectations.

AFRICA
In Nigeria, disruption in the north of the country has continued to worsen, resulting in a decline in sales in that region. Good growth has continued in the south of the country, in particular in the electrical goods business and in the two food and nutrition joint ventures. Whilst the impact of the West African Ebola outbreak has been relatively small in Nigeria, the situation is being carefully monitored.

In Ghana, performance has been affected by the continued weakening in the Cedi, whilst in Kenya performance has been in line with expectations.