Trading Update

RNS Number : 9401G

McBride PLC

05 July 2012

 



5^th July 2012

McBride PLC

Trading Update

McBride PLC, Europe's leading provider of private label household and personal care products, today provides an update on trading for the year ended 30 June 2012 prior to entering its close period.

The Board expects to report trading profit for the year just ended in line with its expectations.

The Group also expects to report full-year revenue growth on a constant currency basis of 1%.  As anticipated, revenue growth in the fourth quarter was impacted by the decision to exit some low margin business in line with our strategy.

Year-end net debt is expected to be in line with the Board's expectations at around £82m.

The Group's Supply Chain re-structuring initiatives are nearing completion.  Previously announced exceptional charges for the year will be around £11 million.

Chris Bull, Chief Executive, commented:

"I am pleased that we have delivered revenue growth and an improved operating margin.  The broader trading environment remains challenging, but we are very encouraged by clear signs that consumers are turning increasingly to Private Label as they search for value without sacrificing quality".

The group intends to announce its preliminary results for the year ended 30^th June 2012 on 4^th September 2012.

For further information please contact:

McBride plc

Chris Bull, Chief Executive                                        020 7539 7852

Richard Armitage, Group Finance Director               020 7539 7851

FTI Consulting

Ed Bridges, Marc Cohen                                            020 7269 7216

 

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