McBride PLC Trading Update (8276T)

TIDMMCB

RNS Number : 8276T

McBride PLC

11 January 2017

11 January 2017

McBride plc

Trading update

McBride plc, the leading European manufacturer and supplier of Co-manufactured and Private Label products for the Household and Personal Care market, provides its trading update for the six months ended 31 December 2016.

The Group's first half year financial performance has been encouraging, with quality of earnings continuing to improve from further positive progress on margins and costs. As a result the Board remains comfortable that the business is on track to deliver its full year expectations for adjusted operating profit.

Underlying Group revenues were 4.5% lower on a constant currency basis when compared to the first half of the prior financial year, which includes a strong comparative from December 2015. Underlying revenues were broadly flat compared to the second half of the prior financial year. The impact of McBride's customer reduction project accounted for a further 2.5% of sales reduction, such that total Group revenues on a constant currency basis were 7.0% lower than the same period last year.

The Group will announce its interim results for the six months ended 31 December 2016 on 22 February 2017.

For further information please contact:

 
 McBride plc 
 Rik De Vos, Chief Executive 
  Officer                        0161 203 7570 
 Chris Smith, Chief Financial 
  Officer                        0161 203 7570 
 
 
 FTI Consulting             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.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 11, 2017 02:00 ET (07:00 GMT)