PZ Cussons Nigeria Plc has reported N21.4 billion profit come back after tax for the six months ended November 30, reversing a N7.0 billion loss a year earlier, according to its recently filed unaudited results with the Nigerian Exchange.
The company’s revenue rose 33 percent to N127.9 billion, reflecting higher product pricing and improved sales volumes across soaps, detergents, and personal-care brands.
Operating profit climbed to N38.0 billion, from a N3.3 billion loss a year earlier, buoyed by an N8.6 billion foreign-exchange gain and a sharp increase in other income, which reached N14.8 billion, largely from property disposals and rental income.
Stocks analyst said that the sharp upturn in PZ Cusson Nigeria’s growth trajectory came on the back of the company’s recent suspension to exit the African market, citing renewed prospects in the continent, specifically, its Nigerian subsidiaries.
Recommitment of its business operations has seen its share price rise 18 percent over the past four weeks, placing it as the 20th best performer on the local bourse, according to data analytics platform African Exchange.
