PZ Cussons Plc reports N2.57 billion profit after taxes in 6 months of 2021

PZ Cussons Plc announced its six-month earnings for the period ending November 30, 2021. It showed a 25.97% increase in revenue, from N37.38 trillion recorded in HY2020 to N47.09 trillion.

PZ Cussons 2
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PZ Cussons

The profit after tax was N2.57 billion. This represents a significant increase of 213.44% compared to N820.93 million in the quarter prior to 2020. The company’s net profit was N231.09 million in the quarter ended January 2021.

According to the financial statement, other income was realized from scrap sales and disposals of fixed assets. The net profit from the disposal of fixed assets increased 71.21% to N1.74 billion from N2.98 billion during the same period in 2020.

The income statement revealed that net profit was reduced by certain expense line items.

The income expense for the period increased by 105.75% compared to the previous-year period. This subdued the profit before taxes and then the net profit for that period.

Other expenses that reduced the net profit during the period include administrative expenses, selling and distribution costs, and Exchange loss.

PZ Cussons Plc’s principal activities are the manufacture, distribution, and sale of a wide variety of consumer products through its own depots.

Total assets of the company decreased by N8.77billion from N87.34billion at the end 2020 to N96.11billion by June 2021. However, total equity increased by N2.57 trillion from the previous year to N37.13 billion.

What You Need to Know

PZ Cussons Plc trades at N5.90 per share, and its market capitalization is N23.43 trillion as of Thursday, December 16, 2021. The company’s share price has increased 11.32% over the past year.

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