REG - McBride PLC - Trading Update

McBrideAnnouncement

25/04/2023 07:00

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RNS Number : 2936X  McBride PLC  25 April 2023

25 April 2023

McBride plc

 

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 for the current financial year, ending 30 June 2023.

 

Against the backdrop of high levels of inflation, the Group has remained
focussed on executing its "Compass" volume, revenue and cost optimisation
plans. New business wins combined with favourable demand levels for private
label products, have meant that output levels are more favourable than
expected.  Customer service levels have continued to improve significantly,
in turn delivering better volumes and supporting opportunities for more
strategic partnerships with key customers.

 

As a consequence, the Board now expects full year adjusted operating profit
and full year reported loss before tax to be between £5m and £10m ahead of
current market expectations (*) and for Net Debt on 30 June 2023 to be £15m
to £20m lower than current market expectations (*).

 

The Group will issue a year end trading statement on 14 July 2023 and
preliminary results are currently scheduled to be announced on 19 September
2023.

 

(*) Current market expectations refer to a Group compiled consensus for FY23
of;

·      Sales Revenue £874m

·      Adjusted Operating Profit of £3.0m

·      Reported Loss Before Tax of £27.3m

·      Net Debt (incl. IFRS 16) £201.5

 

 

 

 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

 

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