PZ Cussons Shares Dip Despite 4.5% Q1 Sales Growth and Unchanged Profit View

PZ Cussons (LON: PZC), the Manchester-based consumer goods group behind Carex and Imperial Leather, said first-quarter like-for-like revenue grew 4.5%. In an AGM trading statement today, it said expectations for full-year operating profit remain unchanged.

The shares were quoted at 95.25p at 08:04 UK time (delayed), down 2.8% from yesterday’s close of 98.0p. The stock opened at 100.0p, which is also the day’s high, and has traded as low as 94.3p. Yesterday’s close was itself 1.51% below Tuesday’s 99.5p.

The company’s regulatory announcement, issued ahead of the annual general meeting today, read: “Group like for like revenue growth in Q1 was 4.5% and expectations for the full year operating profit remain unchanged.”

Like-for-like revenue is sales growth excluding acquisitions, disposals and currency effects, so it shows how the existing business is trading. The statement gave no profit figure, no regional or brand breakdown and no prior-year comparator for the 4.5%.

What it did say matters for holders: unchanged profit expectations mean the update carried no profit warning. The early dip in the shares came despite that, and the statement itself offers no explanation for it.

The shares remain up about 29% this year, from 73.9p at the end of 2025, at the 95.25p quote. Over twelve months they are up about 19%, from 80.0p a year ago. They are still 16% below the intraday high of 114p reached on the 3rd of August.

The 50-day average stands at 103.1p and the 200-day at 88.2p. The 52-week intraday low is 65.093p, set on the 19th of November 2025. The shares went ex-dividend on the 10th of September, closing at 94.3p that day.

Based in Manchester, PZ Cussons owns brands including Carex, Imperial Leather, Childs Farm and St.Tropez. Its lead markets are the UK, ANZ, Nigeria and Indonesia.

The next hard data comes with the company’s first-half results for the 2027 financial year, due on the 10th of February.