UK's McBride falls as annual profit forecast disappoints
16/07/2024 15:15
** Shares of McBride Plc MCB.L fall as much as 14.5% to
121p, stock top pct loser on FTSE Small Cap .FTSC index
** The maker and supplier of private label products for the
domestic household and professional cleaning and hygiene markets
sees FY24 adjusted operating profit in line with the
company-compiled market view of 66.4 mln pounds ($86 mln)
** In April, MCB had forecast annual adjusted operating
profit to be 10% ahead of market expectations of 61 mln pounds
** Peel Hunt analyst Andrew Ford says the market was
disappointed as investors were expecting a significant profit
forecast upgrade for a company which had had a strong run in
FY24
** Including session's losses, stock up ~62% YTD
($1 = 0.7720 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))