Last checked at 24 Jun 2009 07:00
McBride plc
24 June 2009
Pre Close Trading Statement
McBride plc, Europe's leading provider of private label household and personal care products, today provides an update on trading for the year ended 30 June 2009 prior to entering its closed period.
Group revenues in the fourth quarter (to 30 June) are stronger than the previous quarter reflecting continuing strong growth in France and Italy, and an improvement in UK sales including some contract gains. Year on year revenue growth on a constant currency basis is expected to be 6% for the fourth quarter.
Full year revenue growth, on a constant currency basis, is expected to be 4%, benefiting from Private Label gaining market share in our major markets.
The Board expects to report operating profits for the year ended 30 June 2009, before amortisation of intangible assets and exceptional items, of not less than £35m.
Year-end net debt is expected to be less than £90m, subject to exchange rate movements, reflecting continuing strong operational flows. As a result of this finance costs are slightly lower than expected.
Miles Roberts, Chief Executive, said "we are pleased to have ended the year strongly as demand for our Private Label offering continues to grow. Our continuing focus on driving operational efficiencies has been reflected in a satisfactory second half and full year operating performance."
The Group intends to announce its preliminary results for the year ended 30 June 2009 on 3 September 2009.
For further information please contact
| McBride plc | |
| Miles Roberts, Chief Executive | 020 7539 7852 |
| Paul Bergin, Interim Finance Director | 020 7539 7860 |
| Financial Dynamics | ||
| Andrew Dowler | 020 7831 3113 |