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Company McBride PLC
TIDM MCB
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Trading Update

Released 07:00 21-Mar-2013
Number 5022A07

RNS Number : 5022A
McBride PLC
21 March 2013
 



21st March 2013

 

McBride PLC

 

Trading Update

 

McBride PLC, Europe's leading provider of Private Label Household and Personal Care products, provides a trading update for the period from 1st January to 20th March 2013.

 

Group revenue at constant currency for the period is 6% lower than the prior year.  Our previously announced product launches are being executed broadly in line with plan, but underlying sales volumes have been affected by weaker consumer demand in Western Europe, combined with a very recent, unusually strong and prolonged period of branded promotional activity.  Accordingly, Group revenue for the full year is now expected to be around 3% lower than expectations, reflecting some continuation of weaker consumer demand into our fourth quarter, and therefore adjusted operating profit will also be lower.

 

Looking forward, the Board believes that McBride's strategy will lead to growth in Private Label revenue during our fourth quarter, as a consequence of our product launch plan, and despite the weak market conditions.  In addition, decisive action is being taken to accelerate existing cost reduction plans.

 

 

 

For further information please contact:

 

McBride plc


Chris Bull, Chief Executive

020 7539 7852

Richard Armitage, Group Finance Director

020 7539 7851



FTI Consulting


Ed Bridges, Nick Hasell

020 7831 3113

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Trading Update - RNS