Shares of PZ Cussons PLC (LON: PZC) soared over 10% today to trade at the highest levels recorded since November 2018 after the soap-maker saw its first-quarter revenue jump 23%.
The company reported adjusted profit before tax from continuing operations at £62 million pounds for the full-year to May 31, down from £72.3 million in 2019.
The owner of Imperial Leather soap, Carex handwash, and fake tan brand St Tropez, witnessed a great demand for its hygiene products during the COVID-19 pandemic, although sales in its beauty sector suffered. It decided to prioritize Carex
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“Given its anti-bacterial credentials and its power with the customer, we only had enough bottles and pumps to go around, so that went into Carex rather than Imperial Leather,” chief financial officer Alan Bergin said.
Cussons share price gained 10% today to hit 240p, a 22-month high for the company’s stock.
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