PZ Cussons chief Jonathan Myers has hailed a year of revenue and profit growth, as his team’s turnaround strategy bore fruit.
Revenue climbed 5.4% to £541.4m in the year to 31 May 2026, as sales grew in each of the personal care group’s four lead markets and top ten brands.
Alongside structural cost savings and better financial exchange movements in Nigeria, this translated into adjusted operating profit growth of 24.5%, excluding the now-sold PZ Wilmar joint venture.
Adjusted operating profit hit £59.5m in the year. Pre-tax profits were up 21.9% to £50.1m, thanks to lower finance charges, as PZ Cussons used the £51.2m from its PZ Wilmar sale to pay down its debt from £87m to £25m. Gross debt has now reduced by £174.3m over the last three years.
The PZ Wilmar disposal came as part of PZ Cussons’ strategic review of its Africa business – which just two years ago had been plagued by hyperinflation in the Nigerian naira.
The group has now decided to retain and grow its Africa business “subject to clear guardrails”.
Last year, the company also decided to keep hold of its St Tropez tanning brand, turning down several unsatisfactory offers.
The brand has now returned to 6.9% growth in its largest market, North America, driven by a successful partnership with fmcg giant Emerson. Revenue continued to decline in the UK and Europe.
Myers said the group had emerged from the year with a “refreshed strategy with a clearer financial framework and capital allocation policy”.
“We are now a more focused and resilient business, leveraging competitive advantages from our locally-loved brands, go-to-market capabilities and manufacturing scale, with a portfolio balanced across developed and emerging markets.”
The board has proposed a resumption of dividend growth, given the group’s strengthened balance sheet.
“The current year has started in line with expectations and we are pleased with the continued early signs of progress,” Myers added.
“While there is plenty more to do, and we are mindful of macro-economic uncertainties, we are well placed to continue delivering sustainable growth.”
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