By Financescape
PZ Cussons Nigeria Plc. is engaged in manufacturing, marketing, sale, and distribution of a wide range of consumer products and home appliances which are leading brand names in Nigeria. The Group is also involved in the distribution of products of Nutricima ltd. Harefield Industrial Nigeria ltd, PZ Wilmar food ltd.
The company has released its financial statement for the year ended May 31, 2019. The group’s revenue decreased by 8% to N74.336 million from N80.552 million in 2018.
Operating profit decreased by 72% to N2.273 million in 2019 from N8.228 million in 2018. The group total expenses have dropped by 8.6% as a result of a drop in selling and distribution costs and administration expenses.
Profit before tax decreased by 16% to N1.942 million in 2019 from N2.313 million in 2018. Profit after tax has decreased by 40% from N1.155 million in 2019 from N1.927 million in 2018.
Earning per share has dropped to 25 kobos in 2019 from 46 kobos in 2018.
The Board of Directors is proposing a dividend of N595,571,550 representing a payment of 15 kobos per ordinary share subject to deduction of appropriate withholding tax and regulatory approval, The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on October 11, 2019. The payment date is October 30, 2019.
