Cussons third-quarter revenue up 5% to £145m

Manchester-based consumer products company PZ Cussons said on Tuesday its revenue in its third quarter ended February 27, 2021, rose 4.7% to £145.3 million on a constant currency basis.

The firm said its Carex brand in the UK and Morning Fresh brand in Australia and Nigeria performed strongly “with both brands continuing to meet the evolving hygiene needs of our consumers.”

The firm’s Cussons Baby brand grew in both Indonesia and Nigeria.

PZ Cussons CEO Jonathan Myers said: “Our third quarter results maintained the renewed momentum of our business despite the quarter ending with the anniversary of the start of the global Covid-19 pandemic.

“The encouraging growth was broad-based, with all regions delivering top and bottom-line growth, enabling the group to deliver operating margins ahead of Q3 last year, while continuing to increase investment behind our Must Win Brands and new strategic capabilities.

“In the final quarter of this current financial year, as some of our brands come up against strong levels of demand in the base period, we intend to continue increasing investment behind building our brands and capabilities, to maintain momentum as we move to more normal comparatives.

“Looking ahead, we will continue to proactively navigate the volatility of the pandemic, the competitive landscape and commodity cost headwinds, but at the same time remain focused on executing the initial phase of our new strategy …”

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