Business
2023 Interim Results
2023 Interim Results.
About this update from Pz Cussons Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n 8 February 2023\n \n \n \n 2023 INTERIM RESULTS\n \n \n \n \n for the half year ended 3 December 2022\n \n \n \n \n \n \n \n Continued profitable like for like revenue growth\n \n \n \n \n FY23 outlook reiterated despite the\n \n \n challenging macro environment\n \n \n \n \n \n \n \n Jonathan Myers, Chief Executive Officer, said:\n \n \n \"Despite the continued challenging macro environment, we have delivered another quarter of like for like revenue growth. Our first half performance has been in line with expectations and we are reiterating our full year outlook. This is thanks to work we have done to make PZ Cussons a more resilient business and our focus on building stronger brands. For example, in the UK, our new brand Cussons Creations is serving cost-conscious shoppers and the re-launched Sanctuary Spa is for consumers looking to treat themselves at home with an everyday indulgence. Overall, while there remains more to do in our transformation and near-term headwinds to navigate in some of our markets, we are confident about the opportunities ahead of us. We are working to build a higher growth, higher margin, simpler and more sustainable business.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted\n \n \n \n \n \n \n Statutory\n \n \n \n \n \n \n \n \n H1 FY23\n \n \n \n \n \n H1 FY22\n \n \n \n \n \n \n \n \n \n \n \n \n H1 FY23\n \n \n \n \n \n H1 FY22\n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n £336.9m\n \n \n \n \n \n £283.7m\n \n \n \n \n \n 18.8%\n \n \n \n \n \n \n £336.9m\n \n \n \n \n \n £283.7m\n \n \n \n \n \n 18.8%\n \n \n \n \n \n \n \n LFL revenue growth\n \n \n \n \n \n 6.1%\n \n \n \n \n \n (2.0)%\n \n \n \n \n \n -\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating profit\n \n \n \n \n \n £33.2m\n \n \n \n \n \n £32.9m\n \n \n \n \n \n 0.9%\n \n \n \n \n \n \n £39.2m\n \n \n \n \n \n £24.4m\n \n \n \n \n \n 60.7%\n \n \n \n \n \n \n \n \n Operating margin\n \n \n \n \n \n \n 9.9%\n \n \n \n \n \n \n 11.6%\n \n \n \n \n \n \n (170)bps\n \n \n \n \n \n \n 11.6%\n \n \n \n \n \n \n 8.6%\n \n \n \n \n \n \n 300bps\n \n \n \n \n \n \n \n Profit before tax\n \n \n \n \n \n £34.5m\n \n \n \n \n \n £32.0m\n \n \n \n \n \n 7.8%\n \n \n \n \n \n \n £40.5m\n \n \n \n \n \n £23.5m\n \n \n \n \n \...