PZ Plc Share Price Dips After Reporting 4.5% Drop In PAT

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PZ Cussons released its 2014 FY results showing a 4.5% drop in profit after tax. It reported a N5b profits compared to N5.3b posted a year earlier.  In 2013 profits had risen by 109% despite recording flat sales growth during the period.

Revenue growth this year was 2% indicating slimmer margins as the dip for the slow down in profitability growth. PZ also proposed a 61 kobo dividend  payable in October.

Despite this announcement the share price dipped 2% as at midday trading with 1.8million units exchanging hands. It’s P.E ratio is about 30x