PZ Cussons expects rise in profit despite £12m currency fluctuations hit

British soap and shampoo maker PZ Cussons Plc said full-year performance was in line with management expectations, with pretax profit before exceptional items expected to rise about 6 percent from the previous year.

Cussons, the maker of Imperial Leather soaps, said the company’s results for the year ended May 31 took a hit of about 12 million pounds due to foreign exchange impact.

It noted that profits would have climbed by 17 per cent had it not been for a £12m currency fluctuations hit.

“The financial position of the group remains strong with good cash generation and only a small net debt position at the year end,” the firm said in a trading statement released Thursday.

“While trading conditions in most markets remain challenging, the group remains focused on a dynamic and fast brand renovation and innovation programme, an ongoing cost reduction programme and successful delivery of new areas of growth such as Rafferty’s Garden and the Wilmar joint venture.

“These initiatives will help to offset the continuing macro challenges and the reduction in profits from Poland as a result of the homecare sale. The Group’s balance sheet remains strong and well placed to pursue new areas of growth.”

PZ Cussons makes and sells personal care, beauty, home care and electrical products to consumers in Asia, Africa and Europe.