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Birmingham Post
Birmingham Post
Jon Robinson

Sales to near £600m at Original Source, Carex and Imperial Leather maker

The company behind the Original Source, Carex and Imperial Leather brands has confirmed its sales are set to near £600m for its latest financial year.

Manchester-headquartered PZ Cussons said its total for the 12 months to May 31, 2022, is expected to be approximately £590m, a 3% like-for-like rise.

It added the increase comes after a 7% jump in sales during its final quarter.

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It saw a particular boost in revenue from its "must-win brands", which include products such as Sanctuary Spa and Original Source and grew 4% in the fourth quarter to May 31.

The company added in its latest update that skin care brand Childs Farm, which it acquired in March, has performed in line with expectations and it plans to develop the brand.

Chief executive Jonathan Myers said: "As we close our first full financial year under our new strategy, 'Building brands for life. Today and for future generations', I am pleased with the significant progress made in returning the business to sustainable, profitable revenue growth.

"With a new team in place, we have re-focused on the core job of building brands and have started to unlock value through dramatically reducing complexity in our business.

"The trading environment continues to be challenging, with high input cost inflation and pressures on household budgets.

"We have plans in place to mitigate the impact of this, as we continue to deliver great value for consumers, whilst also investing behind more premium innovations.

"The recent introduction of our new portfolio brand, Cussons Creations, for the value-conscious consumer, alongside the re-launches of Sanctuary Spa and Imperial Leather, are good examples of such initiatives.

"They have been well received by customers and have allowed us to secure significant distribution gains.

"We have great brands and great people and, whilst there is more to be done to deliver against our strategy, we remain excited by the long-term opportunities ahead of us."

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