PZ Cussons Plc reports 455% profit growth in the 9 months to February 2022

PZ Cussons Plc has released its financial result for the 9 months ended February 2022, revealing profit of N5.64 billion, an increase of 455% over the prior year period as revenue increased by 24 .27%.

The period under review was marked by a wave of rising prices for goods and services, with inflationary pressures affecting both consumers and producers. Likewise, producers faced a significant increase in the cost of raw materials and general production costs.

Although the company has registered growth in sales due to double-digit food inflation, net profit was strongly restrained by production costs which increased by 31% during the period under review.

Here is a summary of his results so far;

  • A quick view of the result shows that the company’s revenue in the third quarter appreciated by 21.46% from N22.60 billion to N27.45 billion for the current period.
  • Earnings growth for the third quarter stood at 113.60% QoQ, generating a total of N3.07 billion. While profit before tax stood at N3.31 billion, representing a growth of 92.89% quarter-on-quarter.
  • In addition, the company also made money from asset disposals and write-downs as well as scrap metal sales and rental income, which boosted net profit, collecting a total of $5.69 billion. naira during the year. .
  • PZ Cussons Plc’s revenue performance for the 9 months was impacted by high costs of sales as well as selling, distribution and administrative expenses, which also impacted ripple effect earnings.
  • A closer look at the financial results showed that the total assets of PZ Cussons now stood at N101.44 billion, with net assets increasing by 13.45% to N39.20 billion.

Earnings per share (EPS) for PZ Cussons Plc for the period was N1.42, an increase of 446.15% from N0.26 in Q3 2021.

The company last traded at N9.30 per share and is up 52.46% year-on-year.