Cussons sees its profits hurt by spate of special offers in supermarkets

Strong trading in the UK boosted by the launch of Carex Protect Plus handwash, which kills bacteria for two hours, helped push revenues up 10.5 per cent to £414m in the six months to November 30.

But the group’s profits fell to £39.2m as it battled against rising costs, particularly in the UK where special offers have become commonplace in supermarkets, making it difficult to increase the cost of its products. It was also hit by poor trading in Australia.

Shares fell 5 per cent after the group, which also owns the Charles Worthington haircare, St Tropez tanning and Original Source shower gel brands, warned that full-year profits would be at the bottom end of City expectations.

James Cooke, an analyst at Panmure Gordon, slashed his forecasts to £102m from £110.6m. The group also revealed that while trading in Nigeria, its biggest market, had been strong during the period, it had since been hit when a state of emergency was called in a number of states over Christmas.

This was followed by a nationwide strike, which affected its factories and sales during a peak trading period.

It warned that continued social unrest in the north of the country may create further disruption over the rest of the year.