This content is not available in your region

PZ Cussons says top Nigeria market remains subdued

Access to the comments Comments
Text size Aa Aa

(Reuters) – Soaps and cosmetics maker PZ Cussons Plc <PZC.L> said on Wednesday consumer disposable income at its largest Nigeria market remained subdued ahead of elections in the country, with prices, volumes and margins remaining under pressure.

Macroeconomic conditions have plagued the Imperial Leather brand owner in Nigeria as a lack of liquidity at both consumer and trade levels was shrinking the market for its products, the company said.

However, PZ Cussons said results were in line with its expectations in the first quarter ended Aug. 31, with higher demand in Europe and Asia offseting challenging trading conditions in the African country.

(Reporting by Shariq Khan and Justin George Varghese in Bengaluru; Editing by Gopakumar Warrier)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.