CONSUMER products giant PZ Cussons, which owns brands including Imperial Leather and Original Source, reported a dip in revenue and profit in its half-year results due to "challenging market conditions".

The company said yesterday that adjusted revenue from continuing operations fell 4.3 per cent to £293.3m in the six months to 30 November.

Adjusted operating profit from continuing operations fell 13 per cent to £30.3m due to losses in Nigeria and poor performance in the UK and Australia.

However, PZ Cussons said reported profit before tax jumped 34.5 per cent to £34.7m due to the sale of its Greek business.

The firm said it expected trading to improve when its UK business launches an environmentallyfriendly hand wash range. Increased marketing investment in its US beauty business and Focus Brands in Africa is expected to boost revenue. Investors greeted these global plans, with shares rising 1.23 per cent to 197p.

(c) 2020 City A.M., source Newspaper