PZ Ghana records GH¢42.5m profit in 2019

PZ Cussons Ghana Limited recorded a net profit of GH¢42.5 million in 2019 as against GH¢6.5 million in 2018.

However, revenue fell from GH¢111.6 million to GH¢106.5 million representing a decline of 4.5 per cent while operating profit improved at GH¢28.6 million as compared to GH¢3.3 million in the year under review.

Mr Paul Kwabena Pepera, the Board Chairman, disclosed this at the 61st Annual General Meeting in Accra.

He said the outcome of the company’s operations, this year, was reflective of the commitment to a sustainable growth agenda.

Mr Pepera said business remained strong and solidly positioned for sustainable performance and returns on investment in the years ahead.

“We are committed to increasing shareholders’ value by optimizing the marketing and distribution of our products and providing consumers with quality products that suit their daily needs and aspirations whilst we continue to fulfil our corporate social responsibilities,” he said.

Mr Pepera said despite the challenges the company faced as a result of the cleaning up of the financial sector, it continued to remain solid in the midst of those challenges by putting firm measures in place to sustain the strong position in the market.

“Our main focus brands continue to be Camel/Carex, Nunu, Cussons Baby and Robb, which have maintained their leading market positions due to the company’s continued investment in people, distribution and brand equity building activities,” he said.

Mr David Afflu, the Managing Director of the company, said Management would profitably grow the business, strengthen its portfolio, and enhance the lives of employees and consumers and all other stakeholders by living and breathing the shared values.

Source: GNA