PZ Cussons H1 Earnings Call Highlights

5 days ago 4

MarketBeat

Wed, February 11, 2026 astatine 4:28 AM CST 8 min read

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Strong H1 performance: Like‑for‑like gross roseate 9.5% to £269m and adjusted operating nett accrued to £36m (from £27m), prompting absorption to rise full‑year adjusted operating nett guidance to £53–57m.
Balance expanse materially improved: Disposal proceeds (including the PZ Wilmar sale) and currency receipts reduced nett indebtedness to £84m successful the fractional (pro forma c.£48m with further receipts) and pushed leverage beneath 1x nether management’s caller capital‑allocation guardrails.
Second‑half headwinds and priorities: The radical expects a stepped‑up selling walk (the highest successful 4–5 years) that volition measurement connected H2 profit, kept the interim dividend astatine £0.05, and is taking steps to trim Nigeria FX and minority‑interest sensitivity.
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PZ Cussons (LON:PZC) reported a stronger first-half show for fiscal twelvemonth 2026, supported by broad-based gross growth, higher adjusted operating profit, and a materially improved equilibrium expanse pursuing disposals. Management besides raised full-year operating nett guidance and reiterated expectations for GBP 5 cardinal to GBP 10 cardinal of savings successful FY26, portion flagging a step-up successful selling walk successful the 2nd fractional that is expected to measurement connected half-two profitability versus the anterior year.

Chief Executive Officer Jonathan Myers said the radical delivered “a beardown fiscal performance” successful the archetypal half, with maturation crossed each 3 reporting regions, its 4 pb markets (the UK, Australia, Indonesia, and Nigeria), and each of its apical 10 brands. Like-for-like gross roseate 9.5% to GBP 269 million, up from GBP 249 cardinal successful the prior-year period, with a equilibrium of price/mix and volume.

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Adjusted operating nett accrued to GBP 36 cardinal from GBP 27 million, and the adjusted operating borderline improved by 240 ground points. Finance Director Sarah (who noted the presumption was her past acceptable of results for the company) added that determination was nary operating nett publication from the disposed PZ Wilmar Edible Oils associated task successful the first-half numbers. Excluding the associated task from the comparative basal period, adjusted operating nett roseate from GBP 22 cardinal to GBP 36 million.

Adjusted nett earlier taxation accrued to GBP 30 cardinal from GBP 20 million, helped by a little involvement complaint and improved operating performance. Adjusted net per stock were GBP 0.437, with Sarah noting EPS maturation lagged nett maturation owed to a higher radical taxation complaint and number involvement “leakage” successful Nigeria.