Currency volatility in Nigeria could shave millions off the revenue and profits of the maker of Carex soap and Imperial Leather in a one-off hit to its finances.
Manchester-headquartered personal care giant PZ Cussons, which has a major market in Nigeria, has told investors its near-term financial performance would be impacted by the devaluation of the naira.
Earlier this month, Nigeria’s central bank changed foreign exchange policy to remove complex trading restrictions on the official market, allowing the naira to trade freely.
