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PZ Cussons Nigeria Plc has released its financial results for the business year ended Friday, May 31, 2019. 

During the period under review, the company recorded N74.3 billion revenue as against the N80.5 billion recorded in 2018. This represents a 7.7% decline. 

Profit before tax stood at N1.9 billion for the year as against N2.3 billion recorded last year. This represents a 16% decline.  

Profit for the year stood at N1.2 billion in 2019 as against N1.9 billion recorded last year. This represents a 40% decrease. 

Earnings per share stood at 0.25 in 2019 as against 0.46 in 2018, which represents a 45.7% decrease. 

PZ Cussons to slim down Nigerian business, Imperial Leather maker sees profits slump on Nigerian woes, PZ Cussons revenues, Nigerian news, Nairametrics business news, Naija news
PZ Cussons

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Prior to the release of the financial results, the global consumer goods manufacturer, blamed its huge decline in profit on sluggish demand and challenging conditions in its important Nigerian market. 

Going by the company’s statement, Nairametrics understands that the loss the company experienced was caused by the underwhelming performance of its Nigerian subsidiary, PZ Cussons Nigeria Plc. 

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About the company: PZ Cussons Nigeria Plc manufactures and markets a wide range of popular products such as ROBB balm, Imperial Leather, and Morning Fresh, thereby making it an important part of the global company’s operations. 

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Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.


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