By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-PZ Cussons Nigeria Plc Tuesday recorded a decline of 55.4 percent (55.4%) in its Audited Year Ended May 31 2012.
This is contained in the Company’s Financial Year End Report for 2012 released to the Nigerian Stock Exchange (NSE) and made available to www.investadvocateng.com in Lagos Nigeria.
PZ Cussons Profit After Tax (PAT) in year 2012 end was N2.8539 billion compared to N5.697 billion in the same period of year 2011 end; showing a decline of 55.4% PAT.
Profit Before Tax (PBT) also dropped from N8.025 billion in 2012 End compared to N4.307 billion in the corresponding period of year 2011; showing a drop in PBT of 46.3%.
However, Turnover rose to N72.155 billion in the Audited Year Ended May 31 2012 of PZ Cussons compared to N65.878 billion in 2011 Year End; indicating a rise of 9.5%.
As earlier Reported, PZ Cussons had said harsh economic conditions in Nigeria and higher production cost are amongst the reasons for low Profits at its Parent Company based in the United Kingdom.
PZ Cussons was among the losers as at July 31 2012 at the Floor of the Nigeria’s Exchange. The Shares opened at N25.25 Kobo and closed at N24.51; losing 0.74 Kobo.
