McBride reports revenue increase but shares hit new 2010 low
McBride Plc (LON:MCB) said today trading in the first third of 2010 has been in line with its expectations gaining two per cent in revenue. But it has done little to excite investors with the shares in the personal-care products group hitting a new lowest price for 2010.
Rob Hull
shareprices.com - Thursday, April 29, 2010
McBride is the UK’s leading developer and supplier of household and personal care products in the UK that get sold under retailers’ own brands.
These products fall under the laundry liquid, automatic dishwasher tablet, personal care, air care and specialist cleaner categories.
But unfortunately for the group, a predicted two per cent revenue increase in the period 1 January 2010 to 28 April 2010 hasn’t filled investors with a fresh whiff of excitement.
In fact, the share price for McBride hit a new low for the period the interim management statement was releasing results for.
The share price dropped as low as 200.10p this morning, 0.5 per cent down and the lowest the price has been since December 2009.
And despite the group reporting growth in the personal care and Polish household market, today’s share price has continued an ongoing slump for the group throughout the month.
The group said: “UK sales, whilst ahead of the previous year, have continued to experience strong branded promotional activity.
“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.”
The share price hit a year high of 247.40p in February after the group announced it was restructuring the group’s Italian business.
The share price currently sits marginally up at 201.70p on the FTSE 250 which is 0.29 per cent up at 10:00BST but hasn’t shown strong signs of recovering from yesterday’s plummet.
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