Eastern Europe drives McBride’s sales

SHAMPOO to mouthwash maker McBride Group said that it expects sales to push up by just 1% for its full year to June 30, and that this will be driven by growth in its Eastern European markets along with contributions from recent acquisitions.

In a trading update for the year the firm, which has a large manufacturing base at Middleton in north Manchester, said that it expects operating profits to be in line with expectations.

It confirmed that the latest wave of restructuring would lead to it declaring a one-off exceptional charge of £20m but bring annual savings to its bottom line of £11m.

McBride also said that its year end net debt would stand at £84m – again in line with expectations. The company added that it was continuing to battle with the increasing costs of raw materials.

“Our initiatives to recover these increases are continuing, but where this is not possible in the current weak trading environment, we are exiting non-profitable business,” the company said.

It added that more details will be provided when its full-year results are revealed in September.