McBride PLC Trading Update (5774Q)
October 19 2023 - 2:00AM
UK Regulatory
TIDMMCB
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.GBP8m 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 plc
Chris Smith, Chief Executive
Officer
Mark Strickland, Chief Financial
Officer 0161 203 7401
Instinctif Partners
Tim McCall
Guy Scarborough 0207 457 2020
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END
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