Posted to the web 13 October 2008 Cedi Depreciation Affects PZ PZ Cussons Ghana Limited recorded a significant fall in its financial performance during its first quarter ended 31st August 2008. The company's net profit fell by about 57% from 553,672 recorded during the same time last year. This fall is attributed to the high cost of raw materials as a result of the significant depreciation of the cedi against the dollar. The company made 23% increase in its sales revenue from GH ¢7,976,007 to GH ¢9,824,561. Despite the significant increase in sales turnover, the bottom line indicators fell short as a result of more significant increases in the company's cost of sales and other administrative expenses. The company's Gross profit fell from GH ¢ 751,006 to GH ¢315,469. This indicates 58% fall on year on year basis. These...
[read full story]
Your Web Site
