PZ Cussons (GB:PZC) has released an update.
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PZ Cussons has faced significant economic challenges, including a 70% devaluation of the Nigerian Naira, impacting its financial results with a 19.6% decline in reported revenue and a 39.7% drop in profit before tax for FY24. Despite these setbacks, the company saw 4.4% like-for-like revenue growth and is taking strategic steps, including the potential sale of its African business and St. Tropez brand, to focus on competitive strengths and drive long-term profitable growth. Additionally, a reduced interim dividend reflects the currency impact while maintaining an earnings cover.
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