(Alliance News) - PZ Cussons PLC on Wednesday said trading in the last quarter of the financial year was in line with management expectations despite an adverse movement in the value of the Nigerian naira.
Shares in PZ Cussons, the Manchester-based manufacturer of personal healthcare products and consumer goods, rose 2.0% to 102.60 pence in London on Wednesday.
PZ Cussons expects to report revenue in the financial year to May 31 of around GBP528 million.
Despite a 23% adverse movement in the value of the Nigerian naira since the third quarter trading update in April, the group expects to report adjusted operating profit in the region of GBP55 million to GBP60 million, in line with previous guidance.
Gross debt as at May 31 is also expected to be comfortably within the guided range of GBP160 million to GBP180 million.
PZ Cussons, which owns Carex and Imperial Leather, gave no update on its plans to maximise shareholder value announced in April.
Full-year results will be released on September 18.
By Jeremy Cutler, Alliance News reporter
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Pz Cussons (PZC)