Tuesday, January 18

PZ Cussons Plc posts N2.57 billion profit after tax in 6 months of 2021

PZ Cussons Plc reported its 6 months earnings for the period ended November 30, 2021 revealing a 25.97% growth in revenue from N37.38 billion recorded in HY 2020 to N47.09 billion.

The consumer goods company, reported a profit after tax of N2.57 billion, reflecting significant growth of 213.44% from N820.93 million in the corresponding quarter of 2020. In the Q1 2021, the company’s net profit stood at N231.09 million.

The financial statement revealed that other income during the period was realised from scrap sales and disposal of fixed assets. Net profit generated from disposal of fixed assets increased by 71.21% from N1.74 billion to N2.98 billion in the same period of 2020.

Net profit for the period was subdued by some expense line items as revealed in the income statement.

Income Expense for the period grew by 105.75%, from the prior-year period, subduing the profit before tax and subsequently, net profit for the period.

During the period, other expenses that subdued the net profit include, selling and distribution expenses, administrative expenses and Exchange loss.

The principal activities of PZ Cussons Plc are the manufacture, distribution and sale of a wide range of consumer products and home appliances through owned depots.

The company’s total assets decreased by N8.77 billion from N87.34 billion recorded as at the end of 2020 to N96.11 billion by June 2021. Total equity, however, increased by N2.57 billion from year to date, to stand at N37.13 billion.

What you should know

PZ Cussons Plc is currently trading at N5.90 per share and its market capitalization stands at N23.43 billion as at Thursday, December 16, 2021. Year-to-date performance shows that the share price of the company has gained 11.32%.