14th Jul 2021 11:01
(Alliance News) - McBride PLC expects annual pretax profit to be in line with current market expectations, despite warning of a revenue fall amid tough comparatives due to last year's consumer stockpiling.
McBride is a manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets.
Revenue for the financial year that ended June 30 is expected to fall 4.0% at constant currency.
McBride noted Covid-19 lockdowns meant weaker laundry volumes, but stronger demand for cleaners and dishwasher products in the second half. The boosted demand for cleaning products softened in the final quarter, however.
"These weaker run rates, coupled with short-term consumer stockpiling in the comparative period in the early stage of lockdown in 2020, have resulted in lower second half revenues and full year revenues at constant currency 4.0% lower than the previous year," the company added.
Shares in McBride were up 1.1% at 90.00 pence each in London on Wednesday morning.
By Amrit Sahota; [email protected]
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