Mcbride Regulatory News (MCB)

30 Apr 2009 07:00



McBride plc

30 April 2009

Interim Management Statement

McBride plc, Europe's leading provider of private label household and personal care products, provides its Interim Management Statement for the period from 1 January 2009 to 29 April 2009.

Overall Group trading has been satisfactorily ahead of expectations.

Group revenues in the four month period have increased by 12% including 11% from currency movements. Revenue growth has been particularly strong in France and Italy, benefiting from Private Label gaining market share. In the UK, revenues have grown modestly as our competitors have sought to maintain market share through heavy promotional activity. Year to date revenues have increased by 13% including 10% from currency movements.

Our focus on service, product development and efficiency has resulted in some recent gains of new contracts both in the UK and Continental Europe.

The Group continues to improve its cost base through restructuring and focus on operational efficiencies. The restructuring plans referred to in the February announcement have been implemented successfully.

Cash flow has been strong reflecting a continuing focus and tight control on working capital and capital expenditure. As a result of this and reducing interest rates, financing costs have been lower than expected. 

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