PZ Cussons H1 profit before taxation increases

Tue. January 27, 2009; Posted: 08:41 AM

Jan 27, 2009 (Datamonitor via COMTEX) -- PZCUF | Quote | Chart | News | PowerRating -- PZ Cussons, a manufacturer of personal care and household products, has reported profit before taxation of GBP36.9 million for the six months ended November 30, 2008, a 13.5% increase compared to GBP32.5 million in the same period of 2007.

For the six months ended November 30, 2008, revenues were GBP393.8 million, a 31.5% increase compared to GBP299.5 million in the same period of 2007. Basic earnings per share were 4.90 pence, compared to 5.33 pence in the corresponding period of 2007. Adjusted for exceptional items, basic earnings per share rose 11.9% to 5.25 pence, compared to 4.69 pence in the same period of 2007.

Profit for the six months ended November 30, 2008, stood at GBP24.7 million, compared to GBP25.8 million in the comparable period of 2007.

Anthony Green, chairman of PZ Cussons, said: "The group has delivered a strong performance in the first half despite the worsening global economic conditions. The group's diverse geographical spread, together with its ability to react quickly on a local basis, is ensuring continued profitable growth. The first half performance was achieved despite further increases in raw material costs and significant exchange rate volatility in most markets."

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