StockMarketWire.com - Consumer goods firm PZ Cussons said trading in Nigeria, currently weak due to the uncertain economic situation, would determine the performance of the business in its financial year to May 2018.

The group highlighted a good performance in Europe driven by product innovation and a similarly 'good' showing in Asia, though partly offset by the weakness of Asian currencies against sterling.

Currency weakness was part of the problem in Nigeria with the naira declining 15% against the US dollar in the first half of PZ Cussons financial year.

The company also noted that consumer disposable income had remained weak ahead of the February 2019 general election. As a result first half profit from the country will be down year-on-year.

Half year results will be announced in full on 29 January 2019.



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