Boko Haram attacks hit PZ global profits

July 22

17:29 2015

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PZ Cussons says its global pre-tax profit fell by 30% in 2014 because of Boko Haram attacks in Nigeria, the devaluation of the naira and the Ebola outbreak in Africa.

Nigeria is the biggest market for Imperial Leather, which is made by the British company.

Falling oil prices led to the devaluation of the naira in the second half of PZ Cussons’ financial year.

Pre-tax profit was £89.6 million, down from £125.1 million last year, and revenue slipped 4.9% to £819.1 million.

But investors were buoyed by an increase in the dividend for the 42nd consecutive year, this time up 3.1% to 8p a share.

The UK division made up for some of PZ Cussons’ African woes.

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