PZ Cussons (LON: PZC) delivered its full year FY26 results on August 6, 2026, hosting a virtual presentation and Q&A session for analysts and investors at 9:30am BST.
The session was led by CEO Jonathan Myers and CFO Jan Bramall, who walked attendees through the company’s financial performance and updated strategic direction.
Myers struck an upbeat tone, stating: “We delivered a strong trading performance in FY26, with revenue growth across each of our four lead markets and each of our top ten brands.”
He added that the results reflected “adjusted operating profit growth of nearly 25%, excluding the contribution from the now sold PZ Wilmar joint venture,” driven by structural cost savings and more favorable foreign exchange movements in Nigeria.
Adjusted operating profit for the full year came in at or slightly above the upper end of a revised guidance range of £53 million to £57 million, upgraded from an earlier target of £48 million to £53 million.
Net debt is projected to fall below £30 million, representing a reduction of more than £80 million compared to FY25, largely due to the divestiture of a 50% stake in the PZ Wilmar joint venture.
The St. Tropez brand was highlighted as a notable early success under the company’s refreshed strategic approach, with the brand returning to growth in its key market of North America.
Management described PZ Cussons as “a more focused and resilient business” following the completion of its strategic review and the rollout of a refreshed strategy with a clearer financial framework and capital allocation policy.
On the risk front, management noted it has taken specific actions to offset most cost inflation risks tied to Middle East conflict heading into FY27, providing some stability in the near-term cost outlook.
The company also pointed to ongoing financial guardrails that are actively reducing its sensitivity to Naira volatility, a key concern given PZ Cussons’ significant operational exposure to the Nigerian market.
The results signal a meaningful shift in the company’s financial trajectory, with leadership projecting continued momentum through a tighter operational focus and disciplined capital allocation in the year ahead.
