PZ Cussons
PZ Cussons (Ticker: FTSE 250 – PZC) is a major British manufacturer of personal healthcare products and consumable goods. The group was listed on the London Stock Exchange in 1953.
The company has a rich heritage dating back over 130 years starting out in Sierra Leone, Africa. PZ Cussons business specialises in personal hygiene with Baby and Beauty products at their core.
The initials PZ comes from the two founders surnames George Zochonis and George Paterson and the Cussions came about when PZ acquired Cussons in 1975, which encompassed the Imperial Leather Brand.
In 1948 the two George’s set up the first soap factory in Nigeria. Then over the coming years added additional manufacturing sites in Ghana, Kenya, Poland, Thailand & Indonesia.
Building for the future: from the 2000’s they sought acquisitions adding quality brands like: Original Source, Charles Worthington (Hair Care), Sanctuary Spa, St Tropez (Tanning) and Australia’s leading baby food brand Rafferty’s Garden.
Four main markets represent the majority of the groups business: United Kingdom, Nigeria, Indonesia, Australia.
PZ view themselves as multi-local not multinational so their core focus is on the strength within these local geographies.
With all consumable companies, high quality brands generate a good source of reoccurring revenues and therefore PZ Cussons was a selected as a perminment equity for the portfolio in 2018.
PZ Cussons Brands
Here are some of the groups best known hygiene brands: Joy, Carex, imperial Leather, Original Source, Bayleys of Bond Street & Premier Cool soap.
Here are some of the groups best known beauty brands: St Tropez, Sanctuary Spa, Charles Worthington, Fudge Professional, Venus & Fudge Urban.
Here are some of the groups best known cleaning products: Morning Fresh, Radiant, Zip, Canoe.
PZC Brands - Carex Imperial Leather Original Source PZ Cussons Charles Worthington - London Five AM FUDGE St Tropez Cussons Baby Mum & Me Rafferty Garden ZIP Canoe Premier Radiant Morning Fresh Mamador Nunu Luksja Olympic milk TEC ROBB Well Being
PZ Cussons Dividend
Dividends are distributed bi-annually generally in the months of April & November.
Payments were trimmed during the 2020 global pandemic and unfortunately again during 2024.
The 2024 dividend cut is mainly due to a major addressable market and its currency devaluation in Nigeria.
The latest final dividend announced is £0.0210 pence per share (Ex dividend – 30/10/2024)
For research purposes PZ Cussons five year historical annualised dividend are listed below:
2024 £0.0360 pence
2023 £0.0640 pence
2022 £0.0640 pence
2021 £0.0608 pence
2020 £0.0508 pence
PZC Fundamentals:
Current P/E: 7.86 (04/04/2024)
Yield: 7.25% (04/04/2024)
Total income received over 6 years is £266.00 (04/04/2024).
Further dividend analysis can be viewed in the file below:
PZC
Foot note: For those of you who spotted the income for 1,000 shares in 2016. This equity was initially purchased in 2015 but disposed of in 2016 purely for locking in profits taking advantage of some share appreciation. I am not advocating investors do this however in the beginning some shares were sold after they reached a set profit objective.
When starting out building your portfolio some trading can be good, ensuring you lock in the paper profits. When I re-entered PZ Cussons in 2018 I purchased 500 shares at a third off the initial cost in 2015.
More on the subject of “profit taking” on the Buying/Selling shares page where I will be sharing some of my secrets. (So please check back periodically).
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