PZ Cussons narrows profit guidance and sells stake in Nigerian palm oil firm
The London-listed firm said its profit outlook has been impacted by £2 million of new packaging recycling costs under the so-called Extended Producer Responsibility (EPR) rules, as well falling sales of self-tanning St Tropez ranges in the US.
It is now guiding for underlying earnings of between £52 million and £55 million for the year to the end of May, with the top end being cut from the £58 million previously expected.
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Hide AdPZ said the guidance update “reflects the recognition in the fourth quarter of an additional £2 million Extended Producer Responsibility costs in our UK business, and the significant impact on group profitability as a result of the softer St Tropez US performance”.
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