McBride PLC Trading Update (2646N)
May 19 2020 - 2:00AM
UK Regulatory
TIDMMCB
RNS Number : 2646N
McBride PLC
19 May 2020
19 May 2020
McBride plc
Trading Update
McBride plc (the "Group"), the leading European manufacturer and
supplier of Contract Manufactured and Private Label products for
the domestic Household and professional cleaning and hygiene
markets, today provides a trading update for the current financial
year, ending 30 June 2020.
Further to our update on 25 March 2020, demand levels in our
Household business have moderated from the surge seen in many
markets as countries went into lockdown but encouragingly remain
above the run-rate levels seen before March.These higher demand
levels are evident in most of our major markets and apply mostly to
surface cleaning and dishwashing products, with more limited impact
in laundry products.
Our teams have worked well to address the early challenges of
staff shortages, material availability and distribution blockages
and all factories are currently operating at more normal activity
levels. As anticipated in our March update, we have seen lower
input pricing in this period although some of this benefit has been
tempered by one off COVID-19 related operating costs.
The Group's Aerosols business is benefiting from sales of new
hand sanitiser products and as a result will deliver a profit
improvement in the final quarter, supported by investment in
additional production capacity.
As a consequence the Board now expects full year adjusted profit
before tax to be approximately 15% ahead of current market
expectations (*) and for net debt at 30 June 2020 to be lower than
expectations.
The Group will issue a year end trading statement on 14 July
2020 and preliminary results are scheduled to be announced on 8
September 2020.
(*)Current market expectations refer to a Group compiled
consensus for FY20 of adjusted PBT GBP18.6m.
For further information please contact:
McBride plc
Ludwig de Mot, Chief Executive
Officer 0161 203 7570
Chris Smith, Chief Financial Officer 0161 203 7570
FTI Consulting LLP 020 3727 1017
Ed Bridges, Nick Hasell
Note: This announcement contains inside information which is
disclosed in accordance with the Market Abuse Regulation which came
into effect on 3 July 2016.
-Ends-
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END
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