Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

PZ Cussons Nigeria Rises to Highest in Nine Years on Earnings

July 28 (Bloomberg) -- PZ Cussons Nigeria Plc, a manufacturer of consumer products and home appliances, rose to highest price in more than nine years after saying full-year profit advanced.

The stock climbed by 1.90 kobo, or 4.99 percent, to 40 naira per share, the highest level since at least January 2002 at the 2:30 p.m. close of trading in Lagos.

Net income for the year gained to 5.7 billion naira ($37.2 million) from 5.6 billion naira a year earlier, according to Renaissance Capital, which cited figures released by the Nigerian Stock Exchange. Revenue increased to 65.9 billion naira from 62.7 billion naira, it said.

“The price gain is a reflection of the profit declared by the company,” Chris Okoro, operations head of Lagos-based Gosord Securities Ltd. said on phone today. “There is increased confidence on conglomerates based on their market share.”

To contact the reporter on this story: Emele Onu in Lagos at eonu1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.