McBride PLC AGM Trading Update (2301N)

TIDMMCB

RNS Number : 2301N

McBride PLC

24 October 2016

24 October 2016

McBride plc

AGM Trading Update

McBride plc, the leading European manufacturer and supplier of Co-manufactured and Private Label products for the Household and Personal Care market which today holds its 2016 Annual General Meeting, provides the following trading update for the period from 1 July 2016 to 30 September 2016.

The Group's first quarter financial performance has been an encouraging start to our new year. Whilst Group revenues fell at constant currency and were 2.9% lower than last year (net of the impact from the customer reduction project), our margins and costs have continued the positive progress seen since the launch of our new strategy.

At this early stage of the year the Board is comfortable that the business remains on track to deliver its full year expectations, taking into consideration the many uncertain macro-economic factors ahead of us.

There have been no material events or changes in the financial position of the Group since 1 July 2016.

Rik De Vos, Chief Executive said;

"The first quarter has been an encouraging one for McBride, with the impact of many of the actions from Repair evident in our financial performance. We are actively working on Prepare initiatives as we look to establish the key platforms that will support our growth ambitions."

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.

-Ends-

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTEAXEFALKKFFF

(END) Dow Jones Newswires

October 24, 2016 02:00 ET (06:00 GMT)