Mcbride Share Discussion Threads

[skinny] 05/2/2015 07:07

UK improvement drives increased Group profits

· Private Label revenue growth of 0.6% in this first half year.
· Group revenue 0.2% higher on a constant currency basis than the prior year.
· Strong growth in Germany derived from prior year business wins, offset by a weaker performance in Italy and Spain and subdued revenues in UK and France.
· Group adjusted operating profit increased by 45.3% on a constant currency basis (22.5% as reported), with most of improvement as a result of stronger UK profits.
· The UK restructuring project is progressing well and remains fully on track with timetable.
· Net debt at £86.0m represents 1.9x annualised adjusted EBITDA5. The Group's balance sheet remains strong with committed headroom6 of £103.1m.
· Interim payment to shareholders maintained at the same level as the prior year.
· New management team appointed: Chris Smith joined the Board as Chief Financial Officer on 7 January 2015 and the new Chief Executive Officer, Rik De Vos joined the Board on 2 February 2015.

[paleje] 05/1/2015 14:01

IC gave them a mention this morning -

Household products group McBride (MCB) says that trading is in line with expectations after delivering 0.5 per cent growth in private label products against last year. Management’s restructuring plan is also on target to achieve £12m of savings by June 2016. We reiterate our recent buy recommendation.

[aleman] 05/1/2015 09:27

A satisfactory update for a share that looks too cheap. A rise to meet the downtrend and the 200-day average in the upper 80s looks likely in the run-up to the interims..

[skinny] 05/1/2015 07:04

McBride Plc, Europe's leading provider of Private Label Household and Personal Care products, provides its trading update for the six months ended 31 December 2014.

Trading in the half year period was in line with the Board's expectations.

The Group delivered Private Label growth of 0.5% contributing to Group revenue on a constant currency basis in line with the prior year.

The Group's performance benefited from continued strong growth in Germany, offset by a weaker performance in Italy and Spain and a general softening in the rest of Europe.

The UK business restructuring project is progressing well and remains fully on track to deliver targeted savings of £12m by 30 June 2016, of which at least £3m will benefit the year ending 30 June 2015. It is expected that first half savings will be £1m.

Period end net debt is expected to be in line with expectations at approximately £90m. The Group's balance sheet remains strong, with substantial headroom within its committed borrowing facilities.

Further to the announcement on 18 December 2014, McBride confirms that Rik De Vos will join the Board as Chief Executive Officer on 2 February 2015.

The Group will announce its interim results for the six months ended 31 December 2014 on 5 February 2015.

[aleman] 09/12/2014 17:45

Also, it looks like breaking the 50-day average where a jump to the 200-day would be typical. It looks priimed for a short-term jump to around the 90p mark, but that would still leave the 5-year downtrend and 200-day average as resistances that don't look likely to break without some good news.

[aleman] 09/12/2014 17:02

Seems to have broken the 10-month downtrend but not the 5-year one.


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[essentialinvestor] 21/11/2014 14:36

Appreciated thanks.

[aleman] 21/11/2014 14:31

Own label has been shrinking in the UK as people left their debt problems from 2009 behind and had more cash for their weekly shop. That is normal for the economic cycle. I'm not sure about other countries.

It's on about half the cashflow rating of a typical stable manufacturer and earnings and dividends are expected to grow from here after taking the knife to fat in the UK. Also, it's countercyclical at a time when the rest of the market looks to be getting ready to peak. I'm getting gloomy on the general outlook and looking for defensives and countercyclicals with good dividends. MCB fit the bill. They are very cheap if they are turning the corner as forecasted. I don't mind too much if the overhang depresses the shares further. I buy for income and the long term so I'll just buy more.

[essentialinvestor] 21/11/2014 14:25

Aleman, what do you see as the central attraction here?.

I have been bearish on MCB for years as per previous postings -
on the basis of debt, margin compression and the huge power of the
consumer product groups.

My assessment was that if MCB could not thrive during a period of
huge own label growth and consumer disposable incomes under pressure,
just when could they?.

[aleman] 21/11/2014 14:20

2m shares sold. Only 20m to go? 4m sold two weeks ago by Aberdeen with 7m left. No wonder the shares have been dropping below fair value.

[aleman] 20/11/2014 16:49

It's a dodgy auction price on only 22 shares but it breaks the 6-month downtrend and jumps over the 20-day average. I very much doubt it will confirm tomorrow, though. Could it be a sign of the turn coming, I wonder?


free stock charts from uk.advfn.com

[aleman] 14/11/2014 17:25

Charts looking interesting again. It's compressing under the 6-month downtrend and looks primed for a jump past the 20-day and 50-day averages to meet the 200-day average and the 5-year downtrend at around 90p. They will be tough nuts to crack, though.


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[aleman] 07/11/2014 12:38

I still think this downtrend will break soon. The shares are just too cheap. Remember, the recent 5p fall included a 3.3p ex-dividend - add that back in and the shares would be trying to break the 50-day average. Consensus EPS and dividend and now forecasted to rise in the next couple of years, suggesting the corner has been turned. The market just hasn't woken up to it yet.

[aleman] 05/11/2014 11:36

Small buys seem to have exceeded small sells for weeks. Today, over 1 million shares sold at 77.5p yet the offer is 0.5p higher than yesterday. Has the seller's overhang finally cleared?

[aleman] 23/10/2014 11:23

Giving up smoking is something to be proud of. Lots of people can't do it. Since I had 3 kids in recent years, I've given up enjoying myself, too!

[essentialinvestor] 23/10/2014 11:20

Thanks Aleman, appreciate that and also understand the position on tobacco.

I was a 40 a day smoker, luckily nearly 15 years ago now.

[aleman] 23/10/2014 11:17

MCB only needs to get above 84p and hold there to break the shorter downtrend.


free stock charts from uk.advfn.com


The longer 5-year downtrend will be a tougher nut to crack, at around the 90p mark.


free stock charts from uk.advfn.com

[aleman] 23/10/2014 11:16

No. GVC is my bookie. I would not buy IMT on ethical grounds. I think that pretty much shows where my ethical line is drawn!

[essentialinvestor] 23/10/2014 11:10

Aleman, you holding any LAD if I may ask, or IMT?, TIA.

[aleman] 23/10/2014 11:05

Not showing on ADVFN (yet) but these are up 0.75p today. THat's not massively significant except that the share price looks to like it's going to have another play with the 25- and 50-day averages sometime soon. Recent support at 80p suggests more chance of breaking them next time.

[aleman] 21/10/2014 12:36

There was a bit of voting against the remuneration resolutions and reducing meeting notice to 14 days.

[skinny] 20/10/2014 16:41

McBride plc, Europe's leading supplier of private label household and personal care products, confirms that, further to the announcement on 15 July 2014, Chris Smith will join the Board as Chief Finance Officer on 7 January 2015.

[hvs] 20/10/2014 15:24

I is in big time.