PZ Cussons released their final results of the year, ended May 31 2015. Highlights include the following:
- Revenue and operating profit growth of 2.3% and 2.7% respectively on a like for like basis
- Australian food brand five:am acquired in August for initial consideration of £44.8 million in cash and performing well
- Buy-out in April of joint venture partner of Nigerian beverage business for £21 million in cash and performing well
- Strong balance sheet with net debt at 1.2 x EBITDA following acquisitions
- Dividend increased 3.1% marking 42nd consecutive year of year on year increases
Africa Highlights
- Good progress in developing PZ Wilmar joint venture with growth in revenue from £194 million to £225 million
Asia Highlights
- Recent food and nutrition acquisitions in Australia performing well and mitigating tough trading conditions in Home and Personal Care