PZ Cussons PLC continues to enjoy pandemic-driven hygiene demand

PLC () posted an increase in revenue as it continued to enjoy strong demand for hygiene products driven by the Coronavirus (COVID-19) pandemic.

It said full-year results will be in line with the current range of market expectations, although the fourth quarter will measure against strong comparatives last year.

READ: PZ Cussons at a turning point says Barclays, starting coverage with ‘overweight’

Revenue in the third quarter, ended 27 February, rose 5% to £145.3mln, with all regions delivering constant currency revenue and profit growth compared to the previous year.

Carex in the UK and Morning Fresh in Australia and Nigeria performed strongly, while Original Source returned to growth in the quarter.

Sanctuary Spa delivered strong double-digit growth, thanks to increased bricks and mortar retail sales and “exceptional” online performance, and Cussons Baby grew in Indonesia and Nigeria, continuing the year-to-date trend.

The FTSE 250 group increased media & consumer spend by 30%.

Net debt at period-end was £35mln, down from £116mln a year ago.

Shares rose 1% to 271.5p on Tuesday morning.

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