4th Dec 2020 12:05
(Alliance News) - McBride PLC on Friday said it expects pretax profit for its current financial year to be ahead of market view, thanks to lower costs and a limited operational impact of Covid-19.
The London-based cleaning products manufacturer said it expects its trading in November and December to be ahead of last year, with sales growth for the six months to the end of 2020 of about 2% year-on-year.
McBride said the improved trading is a result of continued factory efficiencies, limited operational impact from Covid-19, lower than expected operating costs and input costs for some raw material and packaging items.
Looking further ahead, for the year to the end of June 2021, McBride said it expects its pretax profit to be at least 10% ahead of the current market consensus of GBP25.2 million. For the year to the end of June 2020, the company reported adjusted pretax profit of GBP24.2 million.
However, it said it remains mindful of the continued economic uncertainty created by Brexit and Covid-19, together with expected increases in some input costs in the second half.
McBride said it will report its results for the six months to the end of 2020 on February 23, 2021.
Shares in McBride were up 9.3% at 72.15 pence in London on Friday.
By Zoe Wickens; [email protected]
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