Troubles in Nigeria trigger profits warning from PZ Cussons
Wednesday 28 March 2012
The soap and shampoo maker PZ Cussons has issued a second profits warning in less than four months, blaming turmoil in Nigeria, its biggest single market and Africa's most populous country.
"Given the importance of Nigeria to the group, the impact of the continuing tensions in the country will be significant, resulting in the group's overall performance being some way below expectations," the company told the stock market.
Shares in the maker of Imperial Leather soaps and Carex anti-bacterial hand washes sank nearly 10 per cent to 301.3p.
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