Trading Update

RNS Number : 2273X
McBride PLC
09 January 2014
 



9th January 2013

 

McBride PLC

 

Trading Update

 

McBride PLC, Europe's leading provider of Private Label Household and Personal Care products, provides its trading update for the six months ended 31st December 2013.

 

Group revenue declined by 3% at constant currency as a consequence of the previously announced wind-down in selected contract manufacturing business impacting the first half of 2013/14.

 

Private Label revenue growth in Central and Eastern Europe remained strong and our France and Benelux business also returned to growth.  Our business in UK has been impacted by branded promotional activity which continued throughout the first half.  Overall Group Private Label revenue grew by 0.5%.

 

As a consequence of the weaker performance in UK, the Board expects Adjusted Operating Profit for the first half to be around £10m.  We expect an improvement in performance in our second half given the extent of new product launches in the pipeline and cost saving initiatives underway, but this will be mitigated to some degree should the current level of branded promotional activity continue, and with demand in the UK retail sector remaining relatively weak.

 

Net debt at the period end will be around £85m.

 

The Group intends to announce its interim results for the six months ending 31st December 2013 on 11th February 2014.

 

 

 

For further information please contact:




McBride plc


Chris Bull, Chief Executive

020 3642 1587

Richard Armitage, Group Finance Director

020 3642 1587



FTI Consulting


Ed Bridges, Nick Hasell

020 7831 3113

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTQVLFBZFFEBBX

Companies

Mcbride (MCB)
UK 100