Division Re-Structuring
McBride PLC
08 June 2006
8 June 2006
McBride plc
CONTINENTAL EUROPEAN DIVISION RE-STRUCTURING
McBride plc, ('McBride') is Europe's leading supplier of Private Label Household
and Personal Care products.
Last September McBride announced that it was undertaking a comprehensive
business and strategic review, the conclusions of which were announced in
February, namely initiatives to enhance customer service levels, reduce the cost
base, improve internal organisation structures and widen its market coverage.
In February it was reported that levels of customer service in Continental
Europe had improved strongly during the first half of the year; since then
customer service has been held at consistently high levels.
A programme of cost reduction initiatives has been commenced to further improve
the Group's operating efficiency and cost base. In the Continental European
division, covering operations in France, Belgium, Holland, Italy and Spain, a
restructuring exercise and a review of factory efficiency have yielded a
reduction of over 10% in headcount since June 2005, while current production
volumes are broadly similar to a year ago. The programme of actions will result
in an exceptional charge to operating profit of up to £3.8m for the current
financial year ending 30th June 2006.
The organisation structure in Continental Europe has been changed to improve
customer focus and accountability for performance. The division is re-organised
into four business units, each of which has full accountability for development
of its markets and delivery of profits.
Commenting on the progress to date McBride's Chief Executive Miles Roberts said:
'McBride is totally committed to the development of Private Label personal care
and household products. The initiatives that we have announced today, including
the re-organisation of the Continental European Division, will improve the
Group's responsiveness to customer needs, significantly mitigate the impact of
increasing raw material costs and ensure that we continue to provide the best
value to our customers.'
For further information please contact
McBride plc
Miles Roberts, Chief Executive 01494 607050
Bob Beveridge, Finance Director 01494 607050
Financial Dynamics
Andrew Dowler 02078313113
This information is provided by RNS
The company news service from the London Stock Exchange IR
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