Cussons in bid to overcome competition
Imperial Leather soap maker PZ Cussons today promised “considerable effort” to ensure managers make their mark in toughening trading conditions.
The England-based group, which also manufactures Carex and Original Source, will increase investment in training and management skills as it looks to drive further growth in an “increasingly competitive environment”.
Chairman Anthony Green said the move had nothing to do with the current performance of managers as the company recently announced record annual pre-tax profits of £60m (€86m), an increase of 17% on a year earlier.
But he warned the impact of high oil prices on raw material and packaging costs meant factory and supply chain efficiencies were increasingly important.
Mr Green told shareholders at the company’s annual meeting: “In order to cater for growth in the future considerable effort is being put in to improve the quality of management in all units.
“Whilst we are proud of what our management has achieved, we believe that to grow profitably in an increasingly competitive environment will require greater management capability.”
Cussons employs 11,000 worldwide with more than 400 people in the UK, including at factories in Nottingham and Salford.
The group operated in West Africa as PZ for around 100 years, until it bought Cussons in 1975. Now it sells its products across Europe, Africa and Asia.
Mr Green said the current performance of the group had been in line with budget, with the summer acquisition of the Charles Worthington range of hair care products in the UK giving the business “a solid foundation”.
Prospects have also been helped by increased stability in Nigeria, where developments have seen the completion of three new factories.
