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PZ Cussons Ghana swings to loss in fiscal Q3

PZ Cussons Ghana Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 was a loss of 602,330 cedis, compared with income of 317,010 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 declined to negative 2.0% from 1.1% in the year-earlier period.

Total revenue climbed 5.6% on an annual basis to 30.4 million cedis from 28.8 million cedis, and total operating expenses grew 9.2% year over year to 30.9 million cedis from 28.3 million cedis.

Reported net income totaled a loss of 955,260 cedis, or a loss of 0 pesewas per share, compared to income of 436,050 cedis, or 0 pesewas per share, in the prior-year period.

As of April 2, US$1 was equivalent to 3.83 cedis.