McBride trading on track
MCBRIDE, the listed manufacturer of shampoo, shower gels and domestic cleaning products for retailers such as Tesco, Morrisons, The Co-op and Sainsburys, said it is trading in line with expectations.
The company said revenues in the four months to April 28 were 2% ahead of last year on a constant currency basis.
The firm has four factories in the North West with sites at Burnley, Barrow, St Helens and Middleton – which is one of its biggest locations.
McBride, whose new chief executive Chris Bull joins next week from Unilever, said
growth had continued to be strong in personal care and in the Polish household market.
Sales in the UK have continued to experience strong branded promotional activity, but remain ahead of last year.
The trading statement added: “The group has continued to focus strongly on customer service, product development and operational efficiencies, and accordingly the operating margin in the period has been maintained at a similar level to the first half.
“Cash generation has continued to be strong, reflecting a tight management of working capital and capital expenditure.”
The company said its restructuring plan in Italy, which will see the closure of a site near Milan, was “progressing in line with the plan.” The move, announced in February, will cost the company £15m, but will save some £2.5m a year.
