PZ Cussons Cuts Outlook, Dividend on Nigerian Naira Devaluation
Photographer: Matthew Lloyd/Bloomberg
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PZ Cussons Plc trimmed profit expectations as its Nigerian business continues to suffer from the devaluation of the Naira, which has experienced the largest drop in its history over the last year.
The maker of Imperial Leather soap and Carex handwash now sees adjusted operating profit in the range of £55 million ($69 million) to £60 million for fiscal 2024, compared to a range of £61.5 million to £68.2 million previously, it said Wednesday.