Source: Sharecast
The maker of Imperial Leather soap now expects adjusted operating profit for the 12 months to May to be at least reach the upper end of its previous guidance range of £53m - £57m.
It previously forecast a range of £48m to £53m at the start of the financial year. Shares in the firm were up 8% in early London trade.
“Looking ahead to FY27, the group is mindful of the potential impact of the conflict in the Middle East and has already taken actions which are expected to offset a large majority of any cost inflation,” Cussons said in a trading statement.
AJ Bell investment director Russ Mould said: "“PZ Cussons’ trading update was light on words but heavy on positivity, triggering a bump in the share price. Trading is much healthier, problems with unfavourable foreign exchange rates have dwindled, and the balance sheet is much stronger. It’s a welcome update from the consumer goods business after multiple years of pain for investors."
Reporting by Frank Prenesti for Sharecast.com
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