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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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PZ Cussons - Net cash soars to £86m

September 2010

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:
  • 343p
A remarkable surge in net cash from £23m to a massive £86.5m was the highlight of the final results for consumer products group PZ Cussons, owner of the Imperial Leather, Carex and Sanctuary brands. Results for the year to  31 May showed a 14.6% increase in pretax profit to £101.8m on turnover that fell 1% to £772m. Cussons showed good progress in Africa (operating profit up 8% to £42.2m) with Nigeria recovering from the credit squeeze seen early last year, which had badly affected sales of higher value electrical goods. Meanwhile, Project Unity, the £39m investment in manufacturing and supply chain, has now been completed and should lead to even stronger cash generation by reducing the time it takes to move stock aroun ...

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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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