PZ Cussons: ‘Exceptionally high demand’ in UK for Carex hand wash, sanitiser gel and Imperial Leather soap
PZ Cussons said today it was experiencing “exceptionally high demand” in the UK for Carex hand wash, sanitiser gel and Imperial Leather soap as people wash their hands more during the coronavirus outbreak.
The company said its focus remains on “sourcing, producing and distributing” these products.
PZ Cussons said it continues to “face challenges in sourcing packaging and raw materials to enable us to fully meet demand”.
However, it said social distancing measures and people staying at home had hit demand for its self-tanning brand St Tropez.
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PZ Cussons said other beauty brands have been hit by the focus of retailers on hygiene and personal care and the closure of hair salons.
The company today reiterated its financial guidance for the year, but said it expected profit to be in the lower end of the predicted range.
The soap-maker said its balance sheet “remained strong”, with net debt of £116m versus £183m at the same time last year, and headroom of £147m under its committed bank facilities.
The company said its management was focused on liquidity, with recent actions including the cancellation of capital expenditure projects and the review of its cost base.
It said it had not yet moved to place staff on furlough under the government scheme in the UK or using similar programmes in other countries.