Progress with planned portfolio reshapePositive start to new yearNaira devaluation wipes out profitsConsumer goods group PZ Cussons (PZC) insisted the 'favourable trends' seen in last year's second half have continued into its new financial year as the FTSE 250 firm assured investors it is on track with plans to refocus its portfolio following a strategic review.Unfortunately, shares in the...

Investors in Carex and Imperial Leather maker PZ Cussons (PZC) must be wringing their hands as they see the firm?s share price disappearing slowly down the plughole.Year-to-date the stock has lost over 40% of its value, while over one year it is down 53% and last week the price hit its lowest level in more than two decades.The root cause of the problem seems to be challenges in Nigeria where...

Nine quarters of like-for-like growthNaira devaluation dents profitabilityDividend slashed by 44%Consumer goods firm PZ Cussons (PZC) has slashed its dividend and warned on profits amid the further devaluation of the Nigerian naira, disappointing news that triggered a 20% share price plunge to a five-year low of 102.6p.The earnings alert and payout cut from PZ Cussons raises questions over the...

Despite well-documented cost-of-living pressures, consumers continue to set aside cash for affordable luxuries such as cosmetics which make them feel good about their appearance and add a little glamour to their lives.In contrast to the slowing growth being reported by the large luxury goods groups, companies which sell makeup, skincare and haircare products and other beauty and wellness wares...

Full-year results to be published on 26 September from consumer goods firm PZ Cussons (PZC) come hot on the heels of the company's announcement that it plans to take full control of its Nigerian business.This decision may come under some scrutiny as the impact of the devaluation of the Nigerian naira could well mar the upcoming numbers. Volatility in the currency and the country itself has...

Carex maker offers £22.8 million for minority-held sharesDeal to 'simplify and strengthen' Nigeria businessBut unit's volatile history means investors unconvincedBranded consumer goods group PZ Cussons (PZC) has offered to buy the minority-held shares in its Nigeria business for £22.8 million in a deal management argues will strengthen its operation in the highly populous African...

Company flags material hit from Nigerian currency devaluationImpact to be felt in May 2024 financial yearFinal quarter of 2023 financial year sees like-for-like growth of 6.7%Consumer goods outfit PZ Cussons (PZC) came under pressure as an otherwise solid update was soured by a hit from a currency devaluation in Nigeria.A resulting 6.5% slump in the share price to 163.6p extends its...

London-listed mining stocks were on the rise on Tuesday, after Beijing confirmed that China is on track to meet the government's 5% economic growth target, while market concern about the volatile political situation in Russia eased.The FTSE 100 index opened up 25.01 points, or 0.3%, at 7,478.59. The FTSE 250 was up 96.72 points, or 0.5%, at 18,071.39, and the AIM All-Share was up 0.61 of a...

- Sixth consecutive quarter of revenue growth- On track to exceed £68.1 million PBT consensus- Nigeria disruptions have 'largely dissipated'Shares in PZ Cussons (PZC) rose 4.2% to 195p after the consumer goods group reported robust third quarter trading and assured investors that full year pre-tax profit should be 'at least in line' with the £68.1 million called for by consensus...

Rising interest rates designed to cool inflation are squeezing consumers' disposable incomes around the globe with spending on big ticket and discretionary items coming under pressure.Yet spending on everyday necessities, mass daily-use items that billions employ every day, is holding up rather well. That's good news for the makers of mundane products which consumers trust and depend upon;...

- Margins pressured by cost inflation- Full year 2023 outlook and long-term ambition unchanged- Depreciation of Nigerian naira a worry for investorsShares in consumer goods business PZ Cussons (PZC) plunged 6.2% to 200.75p despite sold first half results from the Carex hand sanitiser and Imperial Leather soap maker, showing continued healthy like-for-like sales growth.While the...

Despite the sombre macroeconomic backdrop, the blue-chip FTSE 100 index is close to making new 12-month highs. This reflects the defensive composition of the index and its large exposure to international earnings and commodity markets.With many strategists expecting a tough first half for equities the index may well continue to shine.Despite macro challenges some stocks continue to outperform...

- Like-for-like sales growth accelerates- Final dividend increased by 5%- Medium-term sales and margin targets raisedPersonal care group PZ Cussons (PZC) delivered a solid trading update for the year to May, including a small increase in the dividend, and raised its medium-term revenue growth and margin targets.The shares advanced 1p to 196p against a soft market as investors awaited the...

- Underlying sales growth improved in fourth quarter- Chief executive confirms current-year earnings guidance- Firm 'mitigating' cost of living crisis with value rangeConsumer goods firm PZ Cussons (PZC) delivered a pleasing fourth quarter trading update confirming its return to like-for-like sales growth.The firm said it saw 'good revenue momentum' in its Must Win Brands as supply chain...

UK inflation is officially running at 7%, but unfortunately it is likely to go higher once the impact of the Ukraine conflict and the removal of the energy price cap take effect.A year ago, consumer prices weren't even a concern, now they are front and centre with Google Trends showing internet searches for inflation hitting the highest level in nearly two decades.FOOD SHOPPING HABITS ALREADY...

Consumer goods group PZ Cussons (PZC) posted a positive third quarter trading update highlighting strong sales momentum as the Carex-to-Morning Fresh maker successfully increased prices to help counter inflation and protect margins.Reassuringly, the FTSE 250 company also left its 2022 outlook unchanged, although the market reaction was rather muted.PZ Cussons' shares improved a modest 2% to...

Consumer goods business PZ Cussons (PZC) has acquired Childs Farm, the UK's largest baby and child personal care brand. The £36.8 million cash deal comes as the FTSE 250 firm looks to accelerate growth in its core product categories.Shore Capital said this was 'a welcome return to the acquisition trail' for Manchester-based PZ Cussons, adding that its 'journey from turnaround to...

UK stocks traded at a new 12-month high on Wednesday following a strong session in the US which followed through to strength in Asia overnight as market nerves over rate rises eased.The broad and economically sensitive Russell 2000 index closed 1.6% higher in New York while Japan's Nikkei 225 index gained 1.2% and China's SE Composite index added 0.8%.Brent crude dipped 0.5% to $90.30 per...

UK stocks traded higher on Wednesday following a strong session in the US which followed through to strength in Asia overnight.The broad and economically sensitive Russell 2000 index closed 1.6% higher in New York while Japan's Nikkei 225 index gained 1.2% and China's SE Composite index added 0.8%, easing market nerves.Brent crude dipped 0.5% to $90.30 per barrel as traders took profits after...

Constructed last December from shares in UK, European and US markets, Shares' 'Stock picks for 2021' portfolio was based on high conviction in 12 companies for the year ahead. While more than half of them have subsequently done well, there were a handful of disappointments.The net effect is a decent 8.6% return excluding dividends - that's higher the historical average 6% to 7% from equities...