Posh soap sales slide as shoppers opt for discounted goods hitting PZ Cussons' profits by 15%
PZ Cussons slipped out of favour as shoppers stopped paying for branded products and opted for discounted goods instead.
The consumer products group, which owns Imperial Leather, Carex soap and St Tropez sun tan lotion, said tighter spending and cheaper products from rivals caused its profits to slide 15 per cent to £34 million in the six months to the end of November.
Sales in its European business, including the UK, fell by 3.5 per cent.
PZ Cussons expects sales to improve over the next six months.
Group sales grew by 1.9 per cent to £385.4 million during the period, propped up by strong... read more
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