Three months ago, I talked about “PZ Cussons (PZC) shares and a bit of currency volatility in Nigeria”. Since then, the shares are little changed but how do I feel about chat this morning observing a “third year of like for like revenue growth” and “continued strategic progress against a challenging external backdrop”?
Back in April, I observed that “I might not be a Sanctuary Spa and St. Tropez sort of guy, but PZ Cussons (PZC) shares are still a Buy for me”. I may have bought my (not particularly big) shareholding at/around the 180p level, but that still puts me at a loss so far with the shares currently kicking around at about a 166p share price (equivalent to about a five year low). Am I still a fan…or not?
I wrote earlier this year that I was going to buy some shares in the Carex, Childs Farm, Cussons Baby, Imperial Leather, Morning Fresh, Original Source, Premier, Sanctuary Spa and St. Tropez producer PZ Cussons (PZC). Judging by its third quarter update and the conference call I listened to on Thursday, it feels to me as if the FTSE 250 consumer company is making good progress.
Everything has been really busy recently, but it is always better to be busy than not. This is why I am - once again - playing a bit of catch up this weekend, which brings me today to PZ Cusson (PZC). I have written about the manufacturer of personal healthcare products and consumer goods a few times over the last year or two, usually concluding that a sub two quid share price is where I want to buy (more). And here we are again…
The good news for you today is that I am not going to talk about the bunch of central bank rate increases, including further upward moves by the Federal Reserve and the Bank of England plus the first shift by Swiss National Bank to a positive base rate for ages. By my reckoning, the only central bank still with the comedy of negative base rates is the Bank of Japan (who you may recall the new PM has a soft spot for). And all ahead of tomorrow’s mini-budget special by the new chancellor… Of course what I really want to talk about though is stocks, which brings me to full year numbers from PZ Cussons (PZC).
Back in April I called the Imperial Leather, Cussons Baby, Cussons Kids, Carex, Original Source, Sanctuary Spa and St. Tropez seller PZ Cussons (PZC) a “bad day buy” below a 200 pence share price. I think we might have had a few of those year-to-date. But if you have bought some shares - like me - then you certainly have not made a fortune (yet) as the shares are basically 200p this morning. Still, it could be a lot worse…
Happy Easter to all of you. Whilst I can look forward to an EasyJet (EZJ) trip this summer, it has been warm enough over recent days to justify a bit of sun cream, which reminds me of PZ Cussons (PZC) and its St Tropez sun lotion. So, do I still regard the manufacturer of personal healthcare products as a ‘bad day buy’, just as I did a couple of months ago?
I see shares in Antofagasta (ANTO) are up a few percent - further building the mining company’s inevitably positive year-to-date performance - on the news that it has raised $900 million from "selling its 50% stake…(to) Barrick Gold and the Pakistan government to end its involvement in the Reko Diq project in the southwest of the country".
It has been another busy week and - despite the fact it is half term holiday time for some - it will be another hectic seven days for a bunch of corporate news, macroeconomic matters and geopolitical discussions. If you want a quiet life in the investment world then wait for Christmas. One stock that reported over the last week but which I have not had an opportunity yet to comment on is PZ Cusson (PZC) which ‘builds brands to serve consumers better with Hygiene, Baby and Beauty at our core’ in brands such as Carex, St. Tropez, Cussons Baby, Sanctuary Spa, Morning Fresh (depending on which part of the world you live in).
I was a little bit busy yesterday and therefore could not write about the potential Stagecoach (SGC) and National Express (NEX) combination, as Tom noted HERE. Another time then for me rambling on about the reasons why the last decade or so has seen the latter go from being the hunter to the hunted. Meanwhile as for the Conservative Party Conference next month...I guess I could have gone but I will be too busy washing my hair. There is always another year I guess. It has been far from a boring week in the markets and certainly there are a couple of names that did report yesterday that I will add a few thoughts on over the next few days. Today however I want to talk about PZ Cussons (PZC).
