Pz Cussons Nigeria Plc has released its results for the year
ended May 31, 2015, proposing a final dividend of N0.61.
From the profit and loss figures, the household products company
profit after tax stood at N4.57 billion in 2015, 10.1 per cent lower than the N6.9
billion profit after tax the company reported in the corresponding period of
2014.
The company also reported a 5.7 per cent decline in profit before
tax to N6.6 billion in the reviewing period from N6.9 billion.
PZ Cussons in its latest account report slow purchasing power
with its revenue marginally gaining 0.30 per cent from N72.9 billion in 2014 to
N73 billion in the year under review. Hike in finance cost and cost of sales
contributed to the company’s bad performance in profits.
Finance cost significantly
rose by 215.4 per cent from N141.1 million in 2014 to N444.86 million in 2015
following the Central Bank of Nigeria (CBN) devaluation of Naira.
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