Tom Winnifrith Bearcast - Sacking Neil Woodford makes total sense, sacking Babcock's fat cat FD does not
Columbus Energy – Inniss-Trinity CO₂ pilot project update, potential catalysts see shares remain a buy
I criticised PZ Cussons (PZC) last month for not saying enough to investors and explaining why its long-standing CFO has left, but today it is making a bit more of an effort with full-year numbers. I have been a buyer of the Carex, Imperial Leather and St Tropez brand owner for a while but I must admit I so far have failed to pop down to Nigeria to check out its current large corporate malaise on the ground…
I imagine many readers are thinking about holidays at the moment, be it planned Christmas breaks or something in 2019. I see that TUI (TUI) shares are up 5% today as the company not only confirms a 10% rise in 2018 earnings but also gives guidance for 2019 for a similar proportional increase. Well...
It is no huge surprise that today's set of numbers from PZ Cussons (PZC) are not the finest ever seen because it told us so forty days ago as I wrote up at the time HERE. Of course the actual publication of a set of full year numbers always provides further insights and information...but it is hard to sugar coat a 15% odd fall in profits, a nudging down of overall revenues, debt pushing out a bit and the c. 4% dividend yield only held.
Three months ago I wrote about the St Tropez tan and Imperial Leather soap producer PZ Cussons (PZC) that the share price back down to 2010 levels had piqued my interest. Today's trading update is a mix of good and bad and the share has fallen back down to the levels it was at in my previous piece. However, it is no disaster statement. Sure, bottom of the range chat is never taken well - hence the move today - but there is a group-wide stabilisation here which bodes better for the future...and this is why the share (remains) a buy.
Another 'earnings Thursday'. I could write about Cineworld (CINE) again after my post deal announcement review but it really is all about the big US acquisition and I think it overpaid. Instead I turn to the consumer name PZ Cussons (PZC), which has had a slightly unpleasant share price fall today after updating the market with the observation that:
Yesterday saw the publication of annual results from one of the low-profile but high-quality companies on the market: PZ Cussons (PZC). Underlying results were unexciting but investors were treated to their 43rd consecutive year-on-year dividend increase from this 19th century business. It just goes to show that successful investing can be very, very boring.
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