Trading Update

RNS Number : 6379K

McBride PLC

11 July 2017

 

11 July 2017

McBride plc

Trading update

McBride plc ("McBride" or the "Group"), the leading European manufacturer and supplier of Co-manufactured and Private Label products for the Household and Personal Care market, provides the following update for the year ended 30 June 2017.

Adjusted operating profit for the full year is forecast to be in line with expectations.

As anticipated, trading conditions in the second half year remained challenging. Against that backdrop, McBride's ongoing initiatives to manage gross margins and maintain close control over its overhead cost base were effective in mitigating the impact of competitive markets and raw material price inflation.

Underlying Group revenues for the year were 3.8% lower than the prior year on a constant currency basis. The impact of McBride's customer reduction project accounted for a further 2.1% of sales reduction, such that total Group revenues on a constant currency basis were 5.9% lower than the prior year.

The Board remains confident in the execution of the "Manufacturing our Future" strategy and is pleased with the progress to date.

The Group will announce its preliminary results for the year ended 30 June 2017 on 7 September 2017.

For further information please contact:
McBride plc
Rik De Vos, Chief Executive Officer	0161 203 7570
Chris Smith, Chief Financial Officer	0161 203 7570
FTI Consulting	020 3727 1017
Ed Bridges, Nick Hasell

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

 

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