REG - McBride PLC - AGM Trading Update

McBrideAnnouncement

12/11/2024 07:00

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RNS Number : 7862L  McBride PLC  12 November 2024

12 November 2024

McBride plc

 

AGM Trading Update

 

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 the following
trading update ahead of its 2024 Annual General Meeting.

The Group is pleased to confirm that it is continuing to deliver a strong
financial and operational performance and currently anticipates that adjusted
operating profit for the full year to June 2025 will be in line with market
expectations*. This will result in a third consecutive year of revenue growth,
with profitability levels significantly ahead of the historical average.

The early months of the new financial year have seen revenue ahead of the same
period last year and in line with internal expectations. The Group continues
to support its wide range of customers with improved service and innovation
and has an encouraging healthy pipeline of new product launches and business
wins.

Input costs for the main raw and packaging materials remain in line with
forecasts made at the beginning of the financial year. However, with only four
months of the financial year complete, the Group remains cautious about the
macro-economic environment and potential increased volatility in commodity
markets adversely impacting input costs.

In September's final results announcement, the Group stated that net debt
reduction would continue to be a prime focus. As with profitability, progress
in debt levels remains in line with expectations*. Additionally, refinancing
is progressing according to plan and is expected to complete in the coming
weeks.

The Group's FY25 interim results will be announced on 25 February 2025.

 

 

* Market expectations refer to a Group compiled consensus of broker forecasts
for FY25 of:

· Adjusted operating profit £59.7m

· Net debt £111.6m

 

 

For further information, please contact:

 

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

 Instinctif Partners                       0207 457 2020
 Hannah Scott

 Augustine Chipungu

 

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