PZ Cussons is a major British manufacturer of personal healthcare products and consumer goods. It operates across Africa, Europe, Asia, and North America. PZ Cussons Nigeria Plc operates in five core categories such as personal care, beauty, home care, food and nutrition, and electricity.
On Tuesday 29 January 2019, PZ Cussons PLC planned to limit its exposure to Nigeria due to the extreme challenges in trading in Nigeria which hampers overall growth. Statistics shows there was a decline in the revenue generated in Africa as compared to Europe and Asia. The Group continues to make pleasing progress in Europe and Asia, with new product development, however, the macroeconomic conditions in Nigeria remains extremely challenging and continues to have a significant negative impact on the overall group performance.
Whilst these conditions prevail, the company has begun some strategic initiations, which include limiting expose to Nigeria volatility.
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