McBride PLC
23 June 2005
23 June 2005
McBride plc
PRE CLOSE STATEMENT
McBride plc ('the Group'), Europe's leading supplier of household and personal
care retailer brand products, is pleased to provide an update on trading prior
to entering its Close Period relating to the twelve months ending 30 June 2005.
As foreshadowed in the interim announcement in February, the trading environment
remains very competitive. The Group anticipates that the operating profit before
goodwill amortisation and exceptional items will be in the region of £35m for
the full year to 30th June 2005. This profit has been held at the same level as
last year.
The Group continues to focus on growing profitable sales in addition to
improving operational efficiency and asset utilisation. A number of initiatives
are planned that will further improve the Group's cost base. These initiatives
include the closure of a factory following transfer of its production to another
group facilty. The Board anticipates that these initiatives will result in an
exceptional charge of approximately £3m.
Underlying cash generation from trading remained strong during the year with net
debt forecast to be in the region of £25m at the year end after the net cost of
share repurchases of £6m .
The Preliminary Results for the twelve months ending 30 June 2005 will be
announced in September 2005.
For further information:
Mike Handley, Chief Executive, McBride plc, +44(0)1494 607050
Miles Roberts, Finance Director McBride plc, +44(0)1494 607050
Andrew Dowler, Financial Dynamics, +44(0)20 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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