Investor Presentaiton
Africa results
Revenue¹
Operating profit
PZ
Cussons
2018
2017
Reported
change %
Constant currency
change %
£275.6m
£305.6m
(9.8%)
(2.0%)
£6.3m
£28.3m
(77.7%)
(76.1%)
Nigeria exchange rates relatively stable and foreign exchange reserves in the country strong as a result of higher
oil price
Significantly lower profits in Nigeria due to market contraction as a result of lack of liquidity in the trade and
reduced consumer disposable income
■ No structural change in the landscape of the categories in which we operate with No.1 and No.2 brand shares
remaining strong
Notes
1.
Nigeria represents 90% approximately of Africa revenue.
2.
PZ Wilmar revenue (not consolidated) £141.6m (2017: £156.9m).
3.
Above results for Nigeria translated at CBN rate. Nigeria results from 1 June 2018 to be translated using NIFEX rate.
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