PZ CUSSONS FINANCIAL YEAR PAT DEEP BY 40.07% TO N1.156 Billion

PZ CUSSONS 2019 FINANCIAL YEAR PERFORMANCE REVIEW
Revenue: The firms revenue decline by 7.72% to ₦74.336 billion for its Full Financial Year report as at 31st May, 2019 as against ₦80.553 billion revenue uploaded for 2018 Financial year end, this decline in revenue was influenced by the decline of revenue from Home & Personal Care Products that declined by 19.29%.
 
Gross Operating Cost: The firms operating cost that consist of cost of goods, finance Cost and Operating Expenses, while both Finance Cost and Operating Expenses both declined significantly for the financial Year, by 63.46% and 29.36% respectively, this decline was influence by weakened exchange losses and Administrative expenses that both decline by 29% and 38%, as regards to operating expenses, while the finance cost decline was influenced by weakened interest expense paid to related companies and third parties, which both declined by 49.23% and 76.13%.
 
Bottom Line: The decline in the firms bottomline, was as a result of weakened revenue line, although cost line did decline but was not at par with the decline recorded for the firms revenue line, as such the current period PAT declined by 40.07% to N1.156 Billion from N1.929 Billion for 2018 Financial Year.
 
PZ CUSSONS 2019 FINANCIAL YEAR PAT DEEP BY 40.07% to N1.156 Billion