REG - McBride PLC - Trading Update

McBrideAnnouncement

19/10/2023 07:00

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RNS Number : 5774Q  McBride PLC  19 October 2023

19 October 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.

 

The volatile inflationary environment as described in the Group's preliminary
results announcement on 19 September 2023 has continued to persist. While raw
material and packaging material costs remain relatively stable, albeit at
significantly higher levels than in previous financial years, other costs such
as labour, energy and indirect cost inflation continue to be a source of
upward cost pressure.

 

The Group also notes that world events could lead to macro-economic
instability which may result in an increased risk of volatility in commodity
markets and ultimately into further input cost pressures.

 

However, the continued effect of increases in the cost of living on consumers
has meant that demand levels continue to be driven by a shift towards private
label products across all markets and as a result, the favourable trading
environment and momentum of the second half of FY23 has continued into the
first quarter of FY24. The Group has continued its focus as a value adding
partner with our customers as they increasingly grow their own label
proposition. First quarter volumes were 8.0% higher overall compared to the
first quarter of FY23, with private label growth of 10.8%.

 

Consequently, for the first 3 months of the current financial year our
business has traded c.£8m ahead of internal forecasts at an EBITA level.

 

The Group's next scheduled update will be our AGM statement on 20 November
2023.

 

 

For further information:

 

 McBride                                                                                 0161 203 7401
 plc

 Chris Smith, Chief Executive Officer

 Mark Strickland, Chief Financial Officer

 Instinctif                                                                              0207 457 2020
 Partners

 Tim McCall

 Guy Scarborough

 

 

Note: This announcement contains inside formation which is disclosed in
accordance with the Market Abuse Regulations which came into effect on 3 July
2016.

 

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