McBride PLC
06 July 2006
6 July 2006
McBride plc
PRE CLOSE STATEMENT
McBride plc ('the Group'), Europe's leading provider of private label household
and personal care products, today provides an update on trading prior to
entering its close period.
Trading in the second half of the financial year has been as expected.
Accordingly, the Group anticipates reporting financial results for the year
ended 30 June 2006 in line with market expectations; turnover was slightly above
last year with growth in the UK and flat sales in Continental Europe. The
overall Group operating profit margin for the year (before exceptional items)
was in line with the first half. Net debt at 30 June 2006 was approximately
£29m.
The market environment continues to be challenging, mainly due to the impact of
higher input costs. The efficiency improvements and cost savings announced
earlier in the year provide mitigation, but these conditions are likely to
restrain margin improvement in the forthcoming year.
Miles Roberts, Chief Executive, said: 'McBride's performance demonstrates
considerable resilience in a challenging environment. The actions we have taken
earlier in the year to restructure and re-organise the Continental European
division, combined with our strong balance sheet and proven business model,
provide the basis for both organic and inorganic growth.'
The Group intends to announce its preliminary results for the year ended 30 June
2006 on 7 September 2006.
For further information please contact:
McBride plc
Bob Beveridge, Group Finance Director
Office 01494 607051
Mobile 07876593182
Miles Roberts, Chief Executive
Office 01494607050
Financial Dynamics
Andrew Dowler 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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