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it was then ... This could do the best part of £2+ from here - defo on my watch ...
McBride: Panmure Gordon lowers target price from 127p to 120p keeping its buy recommendation.
on my radar - can bounce from 98-108 for a win or, even better, plummet to c50p for a real buy-in price ...
horrible.the half year report sounded rather optimistic(encouraging trends for private label)At that time already branders were fully in the business of deep promotions.I alerted the company in an e-mail that branded products were somtimes cheaper than mb's products or the same price.The marketing department must at the tiller.communication ishorrible.They don't see that their trading statement is partially contradictory- a VERY RECENT unusually strong and PROLONGED period...Raw material prices are favourable the currency is favourable all their competitors have excellent results something must be fundamentally wrong at this company .Their refreshment program gives me a chill
Yet another profit warning. How long can this go on before investors give up on this management team? Look at ABF (Primark) who issued positive news today. McBride should benefit from the same trends but continues to produce appalling results. Investec's share price target looks pretty silly now. This CEO and FD had never been directors of public companies until they were hired by McBride. Thirty simply haven't hit the experience to get out if this mess.
McBride: Investec shifts target price from 150p to 154p and maintains a buy rating.
McBride: Investec raises target price from 141p to 150p and keeps a buy recommendation.
Indeed,it's very disappointing especially with regard to the most recent trends (weakening in core markets in December).I feel the problems the company has had in recent years are the result of Miles' inconsiderate buying spree.He bought companies and production sites only to shut them down afterwards.I think we should give the new management the benefit of the doubt.yet.more sustantial progress could have expected as raw material costs have decreased considerably
First half revenues are about the same as they were 4 years ago and adjusted profit 50% down on 3 years ago.. Despite pouring £48m into exceptional items in the past 5 years the underlying profit is well down on historic levels. Where are the £15m of efficiency savings which should have been made after the so called exceptional costs of £48m? The current management seems incapable of driving financial performance in a recessionary market which should favour private label over the brands. Surely it is time for shareholders to react with some decisive action . There is as usual with McBride plently of jam tomorrow but a dismal offering today.
A share price rebound since June presents risk-averse investors with an opportunity to sell McBride (MCB), the Europe-focused provider of private-label household and personal care products. Given the £244 million cap's meaningful exposure to oil-derived inputs, volatility in the Middle East is a concern, since the lag in recovering prices means risks to forecasts are significant. Last month (15 October), McBride received forecast downgrades after warning first-half and full-year profits would be impacted by £2 million due to a faster-than-expected decline in its contract manufacturing business. Whilst the wind-down of this business had already been flagged, weakening consumer demand for the relevant branded products has accelerated the process and February's first half numbers won't make pretty reading. On the positive side, McBride is now focused on growing its Private Label business in the second half and beyond. Private Label is gaining market share at the expense of brands, especially in Western Europe, as hard-pressed consumers increasingly seek value and retailers recognise the way in which quality own labels can help them differentiate their offerings. Combined with various self-help measures, the shower gel-to-shampoo supplier's margins and profits are on an upwards trajectory and McBride expects to see improving sales trends in the second half as new private label contracts make an impact. For the year to June, Investec Securities' Nicola Mallard, with a buy recommendation and 145p price target, has pencilled in further improvement in adjusted taxable profits to £27.5 million (2012: £23.7 million), 15.5% growth in earnings to 11.2p (2012: 9.7p) and a return to dividend growth.
McBride: Panmure Gordon lifts target from 140p to 150p, buy rating kept.
Own label goods maker McBride has reduced full year profits guidance as the rate of decline in its contract manufacturing business has accelerated. The firm, which last month announced an unexpected cut in its dividend last month, indicated trading profit in the year to the end of June 2013 will be about £2m lower than previously expected. This is because the group has seen a 7% year-on-year decline in revenue in constant currency terms on the second half of 2012, which, along with the faster than expected decline in the contract manufacturing business, has hit profits. "As we indicated at the full year, our financial performance this year will be second-half weighted as some contract manufacturing business is wound down, allowing us to grow our Private Label business in the second half and beyond," Chief Executive Chris Ball told shareholders at the firm's annual general meeting (AGM). "Although our contract manufacturing business has declined more rapidly than expected in the first half, I remain very encouraged by the progress being made by the business overall," he added. Shares in the company, which had been trading close to a 52-week high of 138.25p, fell 4.75p to 125.25p in the first hour of trading after details of the AGM statement were released.
I googled "Oven Pride Product Recall" and there are a few news items BBC & ITV. It appears a child has een seriously hurt by the product and the Trading Standards are involved. It looks though all Oven Pride and relate products have been recalled. See below article (hope that helps) Oven Pride recall after Essex boy, two, drinks chemicalContinue reading the main story Related Stories Two men to face 'injection' trial Man overcome while cleaning tiles Oven cleaning advert 'not sexist' A domestic products firm has launched a recall after a two-year-old boy ended up seriously ill in hospital after swallowing oven cleaning fluid. Callum Blackshaw, from Orsett, Essex, might need an oesophagus transplant after swallowing several mouthfuls of the chemical cleaner two weeks ago. He is currently at Great Ormond Street Hospital in London. Oven Pride is investigating a "potential safety issue" and has started a product recall. Callum, who has a twin brother called Calvin, is being fed by a drip as he receives treatment in hospital. His mother Maxine is at his bedside. 'Deep concern' The toddler consumed the liquid after his grandmother, police community support officer Carina Blackshaw, left it on a kitchen table. It is understood Callum got on to the table and managed to open the bottle's child lock before swallowing some of the liquid. Chris Bull, chief executive of McBride, which makes Oven Pride, said: "We are extremely distressed at this situation and our heart goes out to Callum and his family.
hi portersview, do you know what the recall is due to and do other supermarkets also have to recall the product.The product has been on the market for years but the packagig may have changed and be deficient.This would be a minor problem and the financial and reputational damages would be limited.Apart from that , raw material prices are plummeting-palm oil in paricular and i feel that eps could be much better than recent estimates
A notice is posted to the main entrance to my local Marks & Spencer store announcing the recall of Oven Pride (Robert McBride product). Ouch, thisc good be expensive both in terms of financial cost and reputation. I understand they had to recall a mouthwash brand a couple of years ago that hurt.
MCBRIDE'S CEO, CHRIS BULL, SPENDS £23,900 ON SHARES Chris Bull, Chief Executive Officer, bought 20,000 shares in the company on the 7th September 2012 at a price of 119.50p. The Director now holds 300,000 shares. Source: http://www.stockmarketwire.com/article/4441422/Director-Deals-McBride-PLC-MCB.html BROKERS' VIEWS: Deutsche Bank reiterates its BUY recommendation for McBride with a target price of 200p. Investec retains it BUY rating on McBride with a target price of 145p. P.S. Here's some links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=256596&mode=2 http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=255276&mode=2 http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=257550&mode=2
Private label product maker McBride said it was positive on the upcoming year with consumers increasingly turning to 'own brand' labels. However, it said it would cut the full year dividend to 5.0p per share from 6.8p the year before. The firm said this was necessary "to maximise the cash available for investment in additional organic Private Label growth, and to ensure that dividend cover remains appropriate". The move took the City by surprise and investors piled out of the stock, pushing it down 10%. The firm said trading since the end of June was in line with expectations as it unveiled full year revenues and profits that up slightly on the year before. One analyst at Panmure Gordon wrote "the decision to rebase the dividend from 6.8p to 5.0p is likely to surprise investors given that the balance sheet remains robust and should improve from 2.0x Net debt EBITDA in full year 2012". Revenues for the year to the end of June rose £1.5m to £813.9m, while pre-tax profits were up to £21.8m from £19.4m the previous year. UK divisional revenue increased by 1% to £315.2m, with core and future growth product category sales growing by 5%. Western Continental Europe divisional revenue remained flat at £405.9m, while Central and Eastern Europe divisional revenue dropped 3% to £135.6m
Private label product maker McBride said it was positive on the upcoming year with consumers increasingly turning to 'own brand' labels. However, it said it would cut the full year dividend to 5.0p per share from 6.8p the year before. The firm said this was necessary "to maximise the cash available for investment in additional organic Private Label growth, and to ensure that dividend cover remains appropriate". The move took the City by surprise and investors piled out of the stock. The firm said trading since the end of June was in line with expectations as it unveiled full year revenues and profits that up slightly on the year before.
Own brand household and personal care products supplier McBride made a 4% rise on revenue, but saw operating profits dive 86%, for the six months ended December 31st. Operating profit fell from £18.8m to £2.7m, which after rising costs led to a pre-tax loss of £0.4m, compared to a profit of £15.5m in the same period of the previous year. Revenues rose from £407.9m to £423.1m, while cost of sales rose from £268.5m to £294.3m. Chief Executive Chris Bull said: "Whilst some volatility in the global commodity and currency markets remains, trading since the end of December has been in line with the Board's expectations, and we expect to see continued progress for the remainder of the year. Our re-structuring activities are being implemented to plan and will lead to total exceptional charges of around £21m and annualised savings of £7m as previously announced." Net debt rose 18% from £72.2m to £85.2m. The firm maintained an interim dividend of 2p
Goldman Sachs upgrades McBride from neutral to buy, target price raised from 135p to 145p.
McBride (MCB) remains a "hold" for Panmure Gordon, with a target price of 130p. The household and personal care manufacturer has made good progress in the restructuring of its business, says the broker and sees good near term growth potential for its Central and Eastern European division. Panmure forecasts pre-tax profits of 23.5 million pounds in 2012, but with weak demand in the UK first half profits are expected to fall significantly. McBride shares inched up 0.5p to 119.5p.
When we last met McBride, the job of producing own-label, low-margin cleaning and skincare products for the big supermarkets was tricky. The price of ingredients such as plastics and packaging was rising, the supermarkets were balking at absorbing these themselves and the big branded competitors were promoting aggressively. A year later it is fair to say that the job has not got any easier. The shares, marked back 5½p to 127p, now sell on about 13 times this year’s earnings, which in this trading climate suggests no strong reason to buy for now, according to the Times.
http://www.investegate.co.uk/Article.aspx?id=201109060700126706N
McBride has own brand of downturn Date: Tuesday 06 Sep 2011 LONDON (ShareCast) - Own label goods maker, McBride, saw profits halved in the year to end of June as rising costs and a tough retail environment took their toll. The firm, which manufactures household and personal products for retailers to sell under their own names, saw pre-tax profits plummet 49% to £22.5m. It also said that it faced "aggressive competition" from branded rivals. McBride maintained its full year dividend at 6.8p per share. Both its UK and Western Contintal Europe divisions saw revenues fall, however business in Central and Eastern Europe was more robust, with revenues up 18%. Chief executive, Chris Bull, said a weak consumer environment and raw material inflation would continue to present a challenge in the short term. "We believe that the actions we are taking will enable us to become more efficient and therefore better able to realise the potential for Private Label," he said.
The last time we looked at McBride, we decided to sell, reasoning that its stock was likely to be pressured by the combination of rising raw materials costs and the ongoing consumer squeeze, particularly in the UK. There was nothing in yesterday's trading update to suggest that input prices had softened, nor was there much encouragement on the retail environment, which the group characterised as "weak". This is hardly surprising, giving activity on the commodity markets and increasing signs of turmoil on the high street. We look forward to the release of its full-year results, which may well prove to be a catalyst for gains. But until then, we think the backdrop remains far too uncertain, according to the Independent, which recommends to sell.