McBride PLC Trading Update (6379K)
July 11 2017 - 02:00AM
UK Regulatory
TIDMMCB
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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