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Soap maker PZ Cussons FY profit to be at lower end of view, hurt by tough Nigeria market

Reuters - UK Focus

June 14 (Reuters) - Soaps and cosmetics maker PZ Cussons (LSE: PZC.L - news) on Thursday said its full year pre-tax profit is expected to be at the lower end of the 80 million to 85 million pound range it previously provided, as trading conditions in Nigeria have tightened further.

The news comes after the company issued a profit warning in March, saying that it would cut costs amid weaker sales in UK and Nigeria, its key markets.

The Imperial Lather and Carex maker said its bathing product sales in the UK have been hurt by the tightening UK retail landscape and inflation outpacing wage growth. Its personal care segment, with brands like Sanctuary and St Tropez, has performed well particularly in the U.S. market, the company added. (Reporting by Sangameswaran S in Bengaluru; Editing by Bernard Orr)