PZ Cussons Nigeria Plc has returned to profit position in its 2021 operations following an increase in the demand for its products, leading to higher dividend pay-out.
To this end, the company shareholders approved a dividend pay-out of N992.62 million resulting in 25k final dividend per share.
The final dividend per share is an improvement over last year’s 10k per share.
The 2021 Annual Report and Financial Statement was considered and approved by the shareholders at the company’s 73rd Annual General Meeting (AGM) held at Ilupeju, Lagos.
There were also improvements in other indices as revenue increased by 23% to N82.578 billion from the previous year of N66.99billion resulting in 143% increase in profit before taxation against a loss of N7.939 billion recorded in 2020.
There was also broad-based growth across business units, reflecting PZ’s leading brands with solid performance in hygiene, home and personal care’. HPZ continued to grow sales by 24% ahead of the previous year.
The business is pursuing a new strategy that provides clearer insight into changing consumer and shopper habits as well as total business transformation thus building brands for life for today and future generations.
The management said the business is transforming the supply chain space to further unlock value, localization of raw material sourcing, blending flexibility and delivery of new product development initiatives.
It added: “We will continue to toe the line of sustainability in tune with best global practices.”
On human resource development, the company expressed its commitment to ensuring that the right level of employee engagement and motivation abound within the company thus further encouraging their passion for excellence and resilience. People transformation will continue to be a key strategic priority ever evolving, it added.
Furthermore, it informed that the business is pursuing a new strategy that provides clearer insight into changing consumer and shopper habits as well as total business transformation thus building brands for life for today and future generations.
Shareholders applauded the company for a commendable performance and look forward to a sustainable growth of revenue and profitability.
