PZ Cussons (LSE:PZC) told investors it expects FY26 adjusted operating profit to be at, or slightly above, the upper end of the previously guided range of £53-57m for the year ended 31 May, an upgrade from the initial guidance of £48-53m provided at the start of the financial year.
The upgrade follows continued strong trading and ongoing stability in the Nigerian Naira, with the group expecting like-for-like revenue growth of c.6% and reported revenue of c.£540m.
Net debt is expected to be less than £30m (including cash held in Nigeria), a reduction of over £80m versus FY25, driven primarily by the sale of the group's 50% stake in the PZ Wilmar joint venture, and management says financial guardrails have reduced the Group's sensitivity to future Naira movements.
Looking to FY27, the group said it is mindful of the potential impact of the conflict in the Middle East and has already taken actions that are expected to offset a large majority of any cost inflation.
PZ Cussons is now due to report FY26 results on 6 August.
