McBride sees ‘satisfactory’ end to 2011

MCBRIDE, the manufacturer and supplier of household and personal care products to  major multiple retailers across Europe, said its performance in the second half of 2011 was “satisfactory”.

The group which has production sites in Bradford and Hull  – where its new bleach production line has capacity for 100 million bottles a year – said revenue at constant currency had grown by 2% in the six months to the end of December.

The company, a major supplier of Asda, confirmed that trading profit in the first half would be lower than last year, and that it will face exceptional charges of around £7m related to restructuring in its supply chain.

Chief executive Chris Bull said: “Our first half performance has been satisfactory, with revenue growth achieved in the current challenging environment. 

“Raw material prices have been stable since mid-2011 and we have completed our cost recovery plans. The consumer will increasingly look for value in these difficult times and our strategic initiatives remain fully on track.”

The company announced the planned closure of its factory in Burnley last summer, a move that cost around 300 jobs. It will announce its half year results on February 9.

McBride said it had appointed Mothercare finance director Neil Harrington as a non-executive director.