St Tropez owner PZ Cussons reports 7% Q4 revenue growth

PZ Cussons, owner of St Tropez and Sanctuary Spa, has released its trading update for the fourth quarter ending 31 may 2022, revealing revenue growth of 7%.

The company said it is on track for full-year like-for-like sales to lift 3%, but cautioned that trading conditions remain “challenging”.

The company said trading in the fourth quarter has continued to be “in line with expectations”, putting it on course to report group revenue for the year of around £590 million.

In 2021, the company recorded revenue of £603.3 million, which marked growth of 2.7% from the £587.2 million in the previous year.

It saw a particular boost in revenue from its “must-win brands”, which include products such as Sanctuary Spa and Original Source and grew 4% in the fourth quarter to May 31.

Childs Farm, which was acquired in March 2022, has performed in line with expectations and the group's plans to develop the brand are "progressing well".

Jonathan Myers, CEO of PZ Cussons, said: “As we close our first full financial year under our new strategy, I am pleased with the significant progress made in returning the business to sustainable, profitable revenue growth.

"The trading environment continues to be challenging, with high input cost inflation and pressures on household budgets. We have plans in place to mitigate the impact of this, as we continue to deliver great value for consumers, whilst also investing behind more premium innovations. We have great brands and great people and, whilst there is more to be done to deliver against our strategy, we remain excited by the long-term opportunities ahead of us.”