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PZ Cussons quarterly sales inch up 0.1%; limited by currency movements
StockMarketWire.com
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Consumer goods group PZ Cussons said its third-quarter revenue had inched up 0.1% after rises in all regions, including Europe and the Americas, were offset by unfavourable currency movements.
Looking forward, the company said it remained on track to perform in line with the current range of market expectations for its 2021 financial year.
Revenue for the three months through March nudged up to £145.3 million, though on a constant currency basis, the growth rate was 4.7%.
'Our third-quarter results maintained the renewed momentum of our business despite the quarter ending with the anniversary of the start of the global Covid-19 pandemic,' chief executive Jonathan Myers said.
'The encouraging growth was broad-based, with all regions delivering top and bottom-line growth, enabling the group to deliver operating margins ahead of the third quarter last year, while continuing to increase investment behind our Must Win Brands and new strategic capabilities.'
'In the final quarter of this current financial year, as some of our brands come up against strong levels of demand in the base period, we intend to continue increasing investment behind building our brands and capabilities, to maintain momentum as we move to more normal comparatives.'
Story provided by StockMarketWire.com
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