REG - McBride PLC - AGM Trading Update and Share Buyback

McBrideAnnouncement

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RNS Number : 2650I  McBride PLC  20 November 2025

20 November 2025

 

McBride plc

 

AGM Trading Update and Share Buyback

 

McBride plc (the "Group" or "Company"), the leading European manufacturer and
supplier of private label and contract manufactured products for the domestic
household and professional cleaning/hygiene markets, today provides the
following trading update ahead of its 2025 Annual General Meeting, and also
announces its intention to commence a £20m share buyback programme.

Trading Update

The Group is pleased to confirm that it continues to deliver solid financial
and operational performance and currently anticipates that adjusted operating
profit for the full year to June 2026 will be in line with analysts'
expectations*. This will result in a third consecutive year of stable
profitability at these levels.  The overall market for Private Label
Household for the top 5 markets has remained at recent highs, with the most
recent quarterly data showing market share at these levels for the 7(th)
consecutive quarter.

Wave 1 of the SAP S\4 Hana ERP implementation successfully went live at the
Middleton production site and Manchester head office on 3 November 2025. The
programme focus now moves to Europe, with the next wave of implementations
expected later in 2026.

The Group has recently exercised the option to extend by one-year to November
2029 its €175 million multi-currency, sustainability-linked, revolving
credit facility agreement. This facility ensures that the Group continues to
have significant levels of liquidity headroom.

Share Buyback and Shareholder Returns

The Board continues to have confidence in the Group's strategy, leading market
position, and financial prospects, and will continue to assess future
investment opportunities in that light.  However, the Board believes the
current market capitalisation fundamentally undervalues the Group to a
significant degree and therefore views the Company's current share price as
presenting a compelling opportunity to create substantial shareholder value
through capital returns.

The Board will therefore commence a £20m share buyback programme shortly,
utilising the maximum allowance of approximately 10% of outstanding ordinary
shares, using the relevant 2025 AGM resolution being passed as expected later
today.

The Board intends to pursue buybacks as one of the key priority uses of
available capital until the Company's market capitalisation more appropriately
reflects the fundamental value of the business. Recognising that the scale of
undervaluation warrants a more material response - and as long as the current
significant undervaluation persists - the Board will therefore seek
shareholder approval to materially expand, up to 25%, the buyback
authorisation from the standard 10% of shares outstanding once the current
authority is close to being exhausted.

In addition, the Company has loaned the Employee Benefit Trust £7.5 million
in October and November 2025 in aggregate to purchase shares to meet certain
future employee share award obligations, thereby offsetting potential future
dilution. The proposed dividend of 3 pence per ordinary share, to be approved
later today, provides an additional £5.2 million return to shareholders.

The Group's FY26 interim results will be announced on 24 February 2026.

* Current analysts' expectations refer to a Group compiled consensus for
adjusted operating profit for FY26 of £64.3m

 

For further information, please contact:

 

 McBride plc                               Via Instinctif
 Chris Smith, Chief Executive Officer
 Mark Strickland, Chief Financial Officer

 Instinctif Partners                       020 7457 2020
 Hannah Scott

 Galyna Kulachek

 

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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