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PZ Cussons Ghana fiscal Q1 loss narrows YOY

PZ Cussons Ghana Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 was a loss of 1.2 million cedis, compared with a loss of 2.7 million cedis in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 4.1% from negative 9.5% in the year-earlier period.

Total revenue increased 7.3% on an annual basis to 30.0 million cedis from 27.9 million cedis, and total operating expenses came to 31.7 million cedis, compared with 31.8 million cedis in the prior-year period.

Reported net income totaled a loss of 3.2 million cedis, or a loss of 2 pesewas per share, compared to a loss of 4.3 million cedis, or a loss of 3 pesewas per share, in the prior-year period.

As of Oct. 15, US$1 was equivalent to 3.83 cedis.