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PZ Cussons - Massive swing to net cash of £23.2m

September 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PZC
  • Price:
  • 225p
Shares in PZ Cussons celebrated strong interims by hitting a new high of 240p and are now 87p ahead of the price at which we made them a New Year Nap for 2009. Those results showed revenues increasing 27% to £838m while pretax profit rose 16% to almost £89m. Earnings increased 15% to 12.4p while the dividend rose 12% to 5.3p. Impressively, net cash increased to £23.2m, a huge swing when compared with net debt of £32m the previous year.Growth was strong across the board with the African region seeing sales rise 34% to £415m with operating profit increasing 17% to £39.5m as the stable political environment and still reasonably high oil price encouraged consumer confidence. Both the personal care and home care divisions experie ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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