Swine flu helps PZ Cussons clean up with hand wash

Anti-bacterial soap has been flying off the shelves in the panic over swine flu, pushing sales of PZ Cussons hand gel up by 200pc since the pandemic became global.

Carex hand gel - Swine flu helps PZ Cussons clean up with hand wash
Carex hand gel has been a big seller

The company, which also owns Imperial Leather and Original Source, said prospects were good as it posted a 16pc increase in pre-tax profits for the year to May.

Finance director Brandon Leigh said: "Conditions are fragile but there is a lot of growth in the markets in which we operate. We do feel confident about meeting 10pc earnings growth in the future."

Cussons' biggest market Nigeria largely avoided the consumer credit crunch as it continues to have a cash economy. Sales across Africa rose 34pc last year.

Growth was slower in the UK with like-for-like sales up just 7.5pc. Cussons said negotiations with retailers became tougher and consumers were focusing much more on price.

London spa the Sanctuary, which Cussons bought last year, is still operating at full capacity.

Cussons had £20m cash on its books in May and Mr Leigh said the group would be happy to take on debt of a couple of hundred million to buy any suitable brands up for sale.

PZ Cussons will pay a final dividend of 4.085p a share on October 7. The shares, which have more than doubled since November, dropped 14 to 221p.