Progressive year for Cussons
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Manufacturing News, Source : TheManufacturer.com
Published : 31 Jul 2007 9:22
The Imperial Leather soap group PZ Cussons today reported a “year of considerable progress” during which it had launched important new projects including increasing manufacturing capacity in Nigeria, and plans for a new UK innovation centre.
Announcing its results for the year ended 31 May, chairman Anthony Green said revenue and profits had improved as a result of good trading performance, particularly in Nigeria and the UK. “In our main market Nigeria, our electrical goods and nutrition businesses have delivered strong growth in the year and continue to add diversity to our consumer product portfolio. In the UK, our successful brand renovation programme has given us the market leading position in the personal wash category,” he said.
During the year, pre-tax profit rose seven per cent to £68.3 million (2006: £63.6m) on revenue also up seven per cent to £577.9 million (2006: £539.9m). The Nigerian business continued to experience strong growth, particularly from the newer product categories of electrical goods and nutrition.
In the UK, the group’s new liquids factory due to open in mid-2008, will include an innovation Centre that will become the 'Personal Wash Centre of Excellence', and new research and development and fragrance development centres. It is costing £26 million which will largely be funded by the proceeds from the planned sale of UK factory sites in Nottingham, Manchester and Ellesmere Port.
In Nigeria, the company’s current milk factory is being extended and a second factory is planned for the manufacture of further nutritional products.
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