PZ Cussons released its 2014 FY results showing a 4.5% drop in profit after tax. It reported a N5b profits compared to N5.3b posted a year earlier. In 2013 profits had risen by 109% despite recording flat sales growth during the period.
Revenue growth this year was 2% indicating slimmer margins as the dip for the slow down in profitability growth. PZ also proposed a 61 kobo dividend payable in October.
Despite this announcement the share price dipped 2% as at midday trading with 1.8million units exchanging hands. It’s P.E ratio is about 30x
