McBride PLC
20 December 2007
McBride plc
20 December 2007
Pre Close Trading Statement
McBride plc, Europe's leading provider of Private Label household and personal
care products, today provides an update on trading for the six months ending 31
December 2007.
First half Group revenues will be ahead of last year driven by the contribution
from recent acquisitions. At the organic level personal care and Continental
Europe have continued to grow but the UK and France household markets have been
very competitive. The net result is that organic Group revenues for the period
are expected to be in line with last year.
The overall performance of the recently acquired businesses has been good, in
line with our expectations.
In common with the industry we have experienced unprecedented increases in the
cost of raw materials. This has had a significant impact on the second quarter
of our financial year and we expect these costs to remain high for the second
half. We are negotiating price increases with our customers and implementing
measures, including restructuring, to ameliorate these costs. In the light of
these pressures we anticipate that the overall operating margin in the first
half will be below that in the comparable period last year. However, the
operating profit, reflecting the contribution from recent acquisitions, is
expected to be in line with the first half of last year.
The result for the full year will depend on the extent of any further increases
in raw material costs and the outcome of the current price negotiations with our
customers.
The Group intends to announce its Interim results for the six months ending 31
December 2007 on 7 February 2008.
Note: Operating profit and operating margin are defined throughout as before
amortisation of goodwill and exceptional items.
For further information please contact :
Miles Roberts, McBride plc Chief Executive 01494 607050
Stuart Miller McBride plc Interim Finance Director 01494 607050
Andrew Dowler Financial Dynamics 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
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