REG - McBride PLC - Trading Statement

McBrideAnnouncement

17/01/2025 07:00

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RNS Number : 6603T  McBride PLC  17 January 2025

17 January 2025

 

McBride plc

 

Trading Update

 

Continued progress in revenue growth, profitability improvement and net debt
reduction.

Full year trading outlook in line with internal expectations.

Annual dividends to be re-instated.

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 2024 ('the Period').

 

The Group expects to report first half adjusted operating profit approximately
8% ahead of the same period last year (on a constant currency basis). Full
year adjusted operating profit is expected to be in line with internal
expectations.

 

Group revenue was 2.9% higher than the prior year period on a constant
currency basis, with volumes up 5.9%. Private label volumes grew by 2.4% and
contract manufacturing volumes increased by 69.0%, driven mostly by the
successful launch of two new multi-year contracts with large FMCG clients over
the past six months.

 

Customer service levels have continued to improve, delivering the increased
volumes and supporting further opportunities for strategic partnerships with
key customers.

 

The Group also continues to make good progress on debt management. Net debt at
the period end was £117.6m (30 June 2024: £131.5m). On a 12-month
trailing EBITDA basis, net debt cover was circa 1.3x (30 June 2024: 1.5x).

 

The recent, new, long-term financing facilities have allowed the normalisation
of the Group's capital allocation options. As a result of this and the ongoing
strong trading performance, the Board intends to re-instate annual dividends
in relation to the current financial year. The details will be announced at
the time of the final results in September 2025.

 

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

 

 

 

 McBride plc                               0161 203 7570
 Chris Smith, Chief Executive Officer
 Mark Strickland, Chief Financial Officer

 Instinctif Partners                       020 7457 2020

 Hannah Scott

 Gus Chipungu

 

 

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