Interim Management Statement

RNS Number : 0813C

McBride PLC

26 April 2012

 



26^th April 2012

McBride PLC

Interim Management Statement

McBride PLC, Europe's leading provider of Private Label Household and Personal Care products, provides its interim management statement for the period from 1^st January 2012 to 25^th April 2012.

The trading performance of the Group during the period has been in line with the Board's expectations, and we expect the full year outlook to be broadly in line with the Board's expectations.

Revenue at constant currency has grown by 3% compared with the same period last year, with all regions delivering growth.

The Group's previously announced Supply Chain re-structuring initiatives are progressing to plan and nearing completion.  Exceptional charges for the year will be around £12 million in line with expectations.

Raw material costs evolved as projected during the third quarter and our margin recovery actions have led to an improved operating margin both quarter-on-quarter and compared to the same period last year.  We expect to see some further recovery in the fourth quarter, although recent increases in a number of commodity prices will impact material costs.

Chris Bull, Chief Executive, commented:

"Our performance continues to be satisfactory with revenue growth achieved in all of our markets and an improving operating margin.  The trading environment remains challenging, but one in which the consumers' desire for value will increasingly be met by Private Label".

For further information please contact:
McBride plc
Chris Bull, Chief Executive	020 7539 7852
Richard Armitage, Group Finance Director	020 7539 7851
FTI Consulting
Ed Bridges, Marc Cohen	020 7831 3113

 

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