PZ Cussons

Ticker PZC

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Market closed
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Price Pence
As of 17:08 10 Sep 2018
Market cap. Pound sterling
947.67 million
As of 17:04 13 Sep 2018

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Struggling UK consumers cut back on buying washing products

A bathroom
Getty Images

Soap conglomerate PZ Cussons said "tough trading conditions" in the first half of the financial year in Europe and Africa led to a 10.3% fall in adjusted operating profit.

Chair Caroline Silver said: "Initiatives are underway to improve performance of these business units."

The company says it plans new product launches, particularly in the UK where the washing and bathing division is struggling.

That's because "consumers are shopping cautiously reflecting general cost inflation outstripping wage growth".

In good news, there was "robust performance" in Nigeria's personal care and home care divisions.

The company maintained the interim dividend at 2.67p per share.