Cussons works up good lather
13 April 2012
STRONG returns from its stock market investments helped Imperial Leather soap maker PZ Cussons to clean up. The firm lifted half-year pre-tax profits 28% to £27.3m, boosted by £1.1m booked gains from a 30% rise in its equity portfolio.
Trading is 'generally strong', said PZ, which sells products across Europe, Africa and Asia. It warns that the weak dollar will impact second-half operating profits, but it is still comfortable with house broker Cazenove's forecasts of £53.6m annual profits.
Dividends are 8.05p, up from 7.5p. The shares fell 12p to 1118p.
