PZ

PZ Cussons Nigeria has posted a profit after tax (PAT) of N1.69 billion for the financial year ended May 31, 2021.

This was shown in PZ Cussons Annual Report and Consolidated Financial Statements signed by the Company Secretary, Jacqueline Ezeokwelume, released to the Nigerian Exchange (NGX) Limited on Thursday in Lagos.

According to the financial statements, the PAT represented a 124 per cent decrease as against N7.20 billion recorded in the corresponding period of 2020.

Also, the statements showed a decline in the company’s profit before tax (PBT) to N3.43 billion from N7.93 billion recorded in the same period of 2020 representing a 143 per cent decline.

However, revenue rose to N82.57 billion from N66.99 billion recorded in the comparative period of 2020, representing a 23 per cent growth.

According to PZ Cussons financial statement, a final dividend in respect of the year ended 31 May 2021 of 25k per share amounting to a total dividend of N992.6 Million was declared at the board meeting held on 20 October 2021.