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PZ Cussons in share drop as costs surge

first_img KCS-content Share Tuesday 25 January 2011 9:12 pm Show Comments ▼ PZ Cussons in share drop as costs surge by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img whatsapp PZ CUSSONS yesterday saw its shares plummet by more than nine per cent as it warned that the year ahead would be tough due to rising costs.The maker of Imperial Leather reported a 3.4 per cent rise in first half pre-tax profit which disappointed some analysts. However, a poor performance in Europe has been partially offset by relatively healthy Asian markets, in the six months to 30 November. In the UK the company was hit by tough comparative figures after its Carex anti-bacterial gel sales were boosted by a swine flu outbreak.“Against such a backdrop, we do harbour concerns that our 2010/11 EBIT (earnings before interest and tax) forecast of £115.7m – which requires 23 per cent growth through the (second) half, may prove too much of a challenge to deliver,” said Shore Capital analyst Darren Shirley. Shore cut its full-year pretax profit forecast to £111m from £116.3m and said it was considering reviewing its ‘buy’ rating on the company’s shares.PZ Cussons chairman Richard Harvey said that tough trading conditions and rising raw material prices – particularly of palm oil which it uses in many of its products – meant the company remained cautious going forward. The FTSE 250 listed company, which also owns Original Source, Charles Worthington and The Sanctuary spa range, saw a five per cent fall in European operating profits to £23.7m. But Asian operating profits jumped to £8.6m from £6.1m in the same period the year before.And total group sales were up 1.3 per cent to £374.8m, delivering pre-tax profits that were flat at £44.5m. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULL whatsapplast_img

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