MCB Mcbride Plc

TIDMMCB

RNS Number : 8819M

McBride PLC

17 January 2023

17 January 2023

McBride plc

Trading Update

Trading in line with expectations

Recovery to EBITA profitability in final two months of the half

McBride plc (the "Group"), the leading European manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets, today provides a trading update for the six months ended 31 December 2022 ("the period").

The Group performed in line with our expectations during the first half period.

Group revenues were 31% higher than the prior year period (at constant currency), benefiting from both the effective pass-through of input cost inflation and volume growth. Customer service levels significantly improved as a result of a focussed effort during the period and cost efficiency initiatives have continued.

Whilst there were some early signs of stabilisation in certain input costs towards the end of the period, costs of some raw materials continued to increase. Energy and employment costs continue to apply further inflationary pressure, and accordingly we are continuing to seek mitigations including price increases, product engineering and cost actions.

Overall, McBride delivered an improved operational and financial performance, with the Group returning to adjusted EBITA profitability in the final two months of the first half. The Group expects to report a small adjusted EBITA loss before exceptional items at the interim results.

Net debt closed the period at GBP169.4m (30 June 2022: GBP164.4m) with liquidity at the end of period of GBP56.6m, which is comfortably above its banking covenant.

The Group's interim results will be announced on 28 February 2023.

 
 McBride plc                                 0161 203 7570 
 Chris Smith, Chief Executive Officer 
 Mark Strickland, Chief Financial Officer 
 
 FTI Consulting LLP                          020 3727 1017 
 Ed Bridges, Nick Hasell 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTQQLFFXFLXBBB

(END) Dow Jones Newswires

January 17, 2023 02:00 ET (07:00 GMT)

Mcbride (LSE:MCB)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025

Mcbride (LSE:MCB)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025