Nigeria: PZ Shares Rise Despite Decline in Half-Year Profit

2 February 2015

The shares of P.Z Cussons Nigeria Plc appreciated by 18.6 per cent last week despite the bear run recorded in the stock market last week. The market closed negatively as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.84 per cent. However, PZ Industries was among the price gainers that escaped the bears' grip. The equities closed as the second highest price gainer, rising from N25.00 to N29.64 per share.

The gain came against expectation that the decline in six months financial results of the company ended November 30, 2014. PZ posted a revenue of N31.659 billion in 2014, a decline from N32.46 billion recorded in the corresponding period of 2013.

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