PZ Cussons Ghana Limited reported unaudited earnings results for the six months ended November 30, 2015. Turnover was GHS 61.5 million against GHS 57.9 million last year. Operating loss was GHS 2.7 million against operating profit of GHS 0.4 million last year.

Loss before exceptional item and income tax was GHS 3.3 million against GHS 1.3 million last year. Loss attributable to equity shareholders was GHS 3.9 million against profit attributable to equity shareholders of GHS 0.03 million last year. Net cash generated from operating activities was GHS 5.7 million against GHS 6.8 million last year.

Loss per share was GHS 0.0233 against earnings per share of GHS 0.0002 last year. The company saw further improvement in the top-line performance resulting in a 6% increase for the half year over the comparative prior year period. This was a result of the continued focus on key brands.

Profit before tax shows a decline against prior year. This was impacted by the sharp & continuous devaluation of the cedi and also increase in actual material cost in the first quarter and part of the second quarter of the year. Half year operating profit declined against comparative prior year period as a result of further investment in distribution costs in order to improve sales by focusing on planned activities for key brands.

Loss before finance income was GHS 2.5 million against profit before finance income of GHS 0.8 million last year. Loss after exceptional item but before income tax was GHS 2.2 million against profit after exceptional item but before income tax of GHS 0.03 million last year. Purchase of property, plant and equipment was GHS 0.7 million against GHS 0.8 million last year.