PZ back on profitability growth path, shareholders approve dividend payout of N992.6m

Shareholders of PZ Cussons Nigeria PLC approved a dividend pay-out of N992.62 million resulting in 25k final dividend per share. The 2021 Annual Report and Financial Statement was considered and approved at the company’s 73^rd Annual General Meeting held at Ilupeju. The final dividend per share is an improvement over last year’s 10k per share. Revenue increased by 23% to N82.578 billion from the previous year of N66.99billion resulting in 143% increase in profit before taxation against a loss of   N7.939 billion recorded in year 2020. Revenue increased by 23% to N82.578 billion from the previous year of N66.99billion resulting in 143% increase in profit before taxation against a loss of   N7.939 billion recorded in year 2020.

Growth has been broad based reflecting in all the business units and many of PZ’s leading brands with solid performance in hygiene, home and personal care’. HPZ continued to grow sales by 24% ahead of the previous year. In Supply Chain space, the business is transforming supply chain to further unlock value, localization of raw material sourcing, blending flexibility and delivery of new product development initiatives. We will continue to toe the line of sustainability in tune with best global practices. On Human Resource Development:  The business remains committed to ensuring the right level of employee engagement and motivation abound within the company thus further encouraging their passion for excellence and resilience. People transformation will continue to be a key strategic priority ever evolving.

The business is pursuing a new strategy that provides clearer insight into changing consumer and shopper habits as well as total business transformation thus building brands for life for today and future generations. Shareholders applauded the company for a commendable performance and look forward to a sustainable growth of revenue and profitability.