Interim Management Statement

RNS Number : 2835E
McBride PLC
09 May 2013
 



9th May 2013

 

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 1stJanuary to 8th May 2013.

 

Group revenue at constant currency was 5% lower than prior year.  Private Label revenue grew by 1%, with Core and Future Growth categories growing by 3%, while contract manufacturing revenue declined by 29% as a consequence of the previously-announced wind-down of this segment.

 

The revenue, margin performance and competitive environment of the Group, during the period since our trading update of 21st March, have been in line with the Board's expectations.

 

Net debt at the end of June is expected to be higher than previously forecast at around £90m as a consequence of currency movements and a temporary increase in working capital.

 

Chris Bull, Chief Executive, commented:

 

"Our market outlook remains challenging, with weak consumer demand in Western Continental Europe and ongoing branded promotional activity in UK.  Despite this, our private label revenue has seen improving growth through the half driven by our programme of product launches and a continued strong performance in Central and Eastern Europe."

 

 

For further information please contact:

 

McBride plc


Chris Bull, Chief Executive

020 7822 3902

Richard Armitage, Group Finance Director

020 7822 3901



FTI Consulting


Ed Bridges, Nick Hasell

020 7831 3113

 


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