Q3 Trading Update
Continued strategic progress and performance in line with expectations.
Sixth consecutive quarter of revenue growth – strength and depth of portfolio driving performance.
PZ Cussons plc today issues a trading update for its third quarter, ended 4 March 2023.
Group Summary 1
• Q3 LFL revenue growthof 6.2%, in line with year-to-date performance
• Europe & the Americas region back to strong revenue growth and with significantly improved margin
• Progress against strategy to grow Must Win Brands including:
– Launching Morning Fresh into the adjacent auto-dishwash category in Australia; and
– Childs Farm performing well with the recent launch of SlumberTime innovation
• Expect FY23 adjusted profit before tax to be at least in line with current market estimates 2
Jonathan Myers, Chief Executive Officer, said:
“We have delivered another quarter of mid-single digit revenue growth, in line with our longer-term ambition. This represents a sixth consecutive quarter of growth, with the business underpinned by the strength and depth of our portfolio and our ongoing strategy to invest behind our brands, build internal capabilities and serve consumers better.
As anticipated, performance has strengthened in Europe & the Americas, with a return to revenue growth and a marked improvement in profitability in the quarter. As a result, we remain confident in delivering against FY23 expectations and that further strategic progress will be made in the balance of FY23 and into FY24.”