One of the most underperforming fast moving consumer goods company in Nigeria is PZ Cussons.
While the company is not reporting a loss, its net profit was nearly unchanged on a year on year comparison.
In its just disclosed result, PZ Cussons said its net profit for the year 2016 financial year fell slightly to NGN1.60 billion compared to 1.65 billion in the year before.
Total revenue for the year grew to NGN57 billion compared to NGN50 billion in the previous year.
The company’s total asset for the year rose to NGN94 billion compared to NGN74 billion in the year before. Also, its total liabilities grew to NGN51 billion compared to NGN31 billion in 2015.
From an overall position, PZ Cussons FMCG business has further shrunk compared to its competitors. The company’s lack of overall competitiveness has severely reduced its revenue.
The heart of our Personal Care and Home Care operations we innovate and manufacture some of Nigeria’s most well loved leading Family brands. We continue to grow through brand innovation and renovation and the development of new distribution points. Our major manufacturing centres are based in Lagos and Aba and our extensive, fast and reliable distribution network covers over 80% of the country.