The Manchester firm behind brands such as Carex and Imperial Leather has reported a full-year loss - but said it is confident for the future with its new strategy now firmly in place.
Consumer products group PZ Cussons on Wednesday reported its preliminary results for the year ending May 31, 2021 as well as its first quarter results to the period ending August 28, 2021.
In terms of the full year, the firm fell to losses after tax of £16.6m - compared to last year's £19.7m profit - a drop of 184%. It said this was in part due to the pre-tax loss on the disposal of Nigerian dairy business Nutricima of £40.7m.
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The group said revenues had risen 2.7% from last year's £587.2m to £603.3m, with net debt now at £30.7m compared with 2020's £49.2m.
Despite that, the firm, which also makes the Original Source, St.Tropez and Sanctuary Spa brands, said adjusted profit before tax from continuing operations stood at £68.6m, up 11% versus the prior year and ahead of consensus.
And pre-tax profit from continuing operations soared by 245% to £63.2m - compared to the previous year's £18.3m.
Jonathan Myers, CEO of the FTSE 250 company, said: "FY21 represents the first year of our new strategy and the journey to turn around the business.
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"With the return to top and bottom line growth on an adjusted basis and tangible progress on key elements of the strategy, we are pleased with the initial progress made while recognising that we have much more to do.
"The revenue momentum was broad-based, with all but one of our 'Must Win Brands' and all of our regions in growth.
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"We were able to demonstrate improved levels of profitability and significantly step up investments in marketing activity and commercial capabilities as we set out to be a business that builds stronger brands and serves more consumers."
He said that was set against a backdrop of the pandemic, which saw soaring levels of demand for hygiene products.
He said: "Our brands were available for our consumers when they needed them most and we retained market leadership - both with Carex in the 海角视频 and Morning Fresh in Australia. We were also pleased with the strong performance of our baby and beauty businesses, as consumer hygiene habits start to normalise.
"The momentum gives us confidence that we have the right strategy for the long-term: building brands for life. Today and for future generations.
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"We continue to work hard at executing the strategy: sustaining marketing investment behind our brands; simplifying the business; building capabilities; and evolving our culture."
He said the board has recommended a final dividend of 3.42p per share, making a total of 6.09p per share for the year, adding: "I am grateful to PZ Cussons employees around the world for their dedication in delivering renewed momentum in the business during a year of such challenge."
The firm also issued a trading update for the first quarter to the period ending August 28, reporting a return to growth.
Revenue had fallen 9% compared to last year - due to lower demand for hygiene products now compared to the start of the pandemic.
It said two-year Q1 revenue had actually risen by 13%.
Total business performance also improved as the quarter progressed and PZ Cussons returned to growth in August.
It added that despite the "significant inflationary pressure" on its cost base, it expects to deliver adjusted profit before tax "within the current range of expectations".