[2008-06-27]  PZ Cussons Ltd (PZ) Records Marginal Gains in Earnings in FY 2008
PZ’s full year ended May 31, 2008 was quiet unimpressive with company recording a meager 9% increase in earnings from GH¢3.27 million to GH¢3.58 million compared to the 51% increase in earnings recorded in 2007. Gross profit increased by 47% to GH¢12.90 million, as a result of a 47% increase in both revenues and cost of sales. The comparatively marginal gain in earnings was as result of a 62.77% decrease in other income, as well as a 52% and 63% increase in distribution and administrative costs respectively. It is important to note that figure recorded for other income in 2007 included a profit on the sale of assets.


Source: SAS