Interim Management Statement

RNS Number : 6522Q

McBride PLC

24 October 2011

 



 

24^th October 2011

McBride PLC

AGM & Interim Management Statement

McBride PLC, Europe's leading provider of Private Label Household and Personal Care products, which holds its 2011 Annual General Meeting today, provides its interim management statement for the period from 1 July 2011 to 23 October 2011.

The trading performance of the Group has been in line with the Board's expectations.

Adjusted revenue at constant currency has grown by around 2%, with all three European divisions delivering growth, led by Central and Eastern Europe.

Raw material costs continue to evolve as projected and our initiatives to recover these increases are progressing towards completion, but, where recovery has not been possible in the current weak trading environment, we are exiting non-profitable business.

There have been no material events or changes in the financial position of the Group since 1 July 2011.

Chris Bull, Chief Executive, commented:

"We have delivered a satisfactory start to the year in which we have continued to benefit from growth in Central and Eastern Europe and in our core categories.  Our initiatives to reduce Supply Chain costs are progressing according to plan.  Private Label offers great value to consumers in the current economic environment, and we will maintain our focus on delivering that value through our innovative, high quality products and customer service."

For further information please contact:

McBride plc

Chris Bull, Chief Executive                                         020 7539 7852

Richard Armitage, Group Finance Director                020 7539 7851

FTI Consulting

Marc Cohen, Rose Oddy                                            020 7269 7163

 

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