• Business - Companies
  • Updated: June 28, 2022

PZ Cussons Plc Records N758 Million Profit

PZ Cussons Plc Records N758 Million Profit

The Q4 2021/22 unaudited results for the financial year which ended May 31, 2022 has been released by PZ Cussons Nig. Plc, revealing a profit of N758.37 million, representing an 11.71% increase year on year.

The financial report was released after the company faced a year of high inflation, during which consumers and businesses both had to contend with the rising cost of products and services, which resulted in buyers paying more for the same amount of goods.

The company earns its profit through its sale of personal/body care products, as well as electrical items such as air conditioners, amongst others, scrap sales and rental income, and also profit from disposal and impairment of fixed assets.

However, the company's increase in Profit was driven significantly  the company’s main business segments which is the sale of home and personal care products and durable electrical appliances.

A cursory review of the result reveals that these segments of the company delivered revenue of N25.50 billion during the period compared to N22.60 billion in the same period last year.

Revenue growth from the segments was at 12.85% year on year.

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