PZ Cussons Revenue Hit N37.3billion As It Recovers From Operating Loss

PZ Cussons recovered from loss in its Profit After Tax in Q2 2020/2021 following the company's revenue rising by 10.1%. According to financials seen by AllNews, PZ Cussons' revenue hit NGN37.3 billion in second quarter of the period under review, surpassing the NGN33.9 billion generated in 2019/2020 period.

The company reduced its Cost of Sales within the Q2 2020/2021 period to NGN27.2 billion from the NGN28.1 billion PZ Cussons spent on cost of production of its products; this represents a drop of 3.3% when both quarters were compared.

PZ Cussons gross profit rose on the heels of a drop in cost of sales, as the company recorded NGN10.1 billion within three months of 2020/2021, rising significantly above the NGN5.7 billion PZ Cussons reported as gross profit during the corresponding period.

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AllNews gathered from the financials of PZ Cussons that the company had recorded Operating loss of NGN1.4 billion in Q2 2019/2020, before recovering with NGN1,9 billion as Operating profit.

Meanwhile, PZ Cussons reported its profit before tax recorded NGN1.02 billion within the period under review, having recorded NGN1.5 billion loss during the corresponding period of 2019/2020.

The company's Profit After Tax rose to NGN820.9 million in 2020/2021, recovering from the loss of NGN1.58 billion recorded in the second quarter of 2019/2020.