Consumer goods firm PZ Cussons said it was on track for like-for-like sales to rise 3%, but warned trading conditions remained “difficult”.
The company said fourth-quarter trading remained “in line with expectations,” with like-for-like sales up 7% in the three months to May 31, putting it on track to report a group turnover for the year of around £590 million.
It saw a particular surge in revenue from its “must have brands”, which include products such as Sanctuary Spa and Original Source, and grew 4% in the fourth quarter to May 31.
Managing Director Jonathan Myers said: “The business environment continues to be challenging, with high input cost inflation and pressure on household budgets.”
Mr Myers warned in April that the group faced the “toughest” environment many have seen as cost pressures intensified.
Mr Myers added in Monday’s update: “We have plans in place to mitigate the impact of this, as we continue to deliver great value to consumers, while also investing in more top-notch innovation. of range.
“The recent introduction of our new portfolio brand, Cussons Creations, for the value-conscious consumer, as well as the re-launch of Sanctuary Spa and Imperial Leather, are good examples of such initiatives.
“They have been well received by customers and have enabled us to achieve significant distribution gains.”
In 2021, the company recorded revenue of £603.3m, up 2.7% from £587.2m the previous year.
The company said in its latest update that skincare brand Childs Farm, which it acquired in March, performed in line with expectations and that it plans to expand the brand.