Manchester consumer products company PZ Cussons plc said in an AGM trading statement it expects to report 5% like-for-like revenue growth for H1 of FY25.

“This reflects a continuation of the favourable Q1 trends led by growth in the UK, as part of our Europe and Americas region, and continued pricing in Africa given the further FX-driven inflation,” said PZ Cussons.

“APAC declined slightly, with continued improvement in Indonesia offset by some category softness in ANZ.”

The company said trading has been in line with expectations and consistent with the FY25 outlook and guidance provided at its FY24 full year results on September 18.

“Gross debt is expected to be less than £160 million at the end of November 2024, compared to £167 million as at 31 May 2024,” said the firm.

“We are also taking action to reduce the impact of currency volatility in relation to intercompany loans to Nigeria.

“The Group is progressing with the sale of St.Tropez and discussions with interested parties which could lead to the partial or full sale of its African business. Further updates will be provided in due course.

“The Group will report its FY25 interim results on Tuesday 11 February 2025.”