14th Oct 2013 06:32
LONDON (Alliance News) - McBride plc (MCB.L), a provider of Private Label Household and Personal Care products, Monday announced that its group revenue for the period from July 1 to October 13 declined by 3% at constant currency.
In its interim management statement, the company attributed the drop in revenues to its previously announced wind-down in selected contract manufacturing business that was expected to continue to impact the first half of 2013/14.
Revenue growth in Central and Eastern Europe continued to demonstrate a strong performance. Overall Group Private Label revenue edged up 1%, slightly less than expected due to a further period of branded promotional activity in UK.
"Although trading in UK continues to be challenging, the combination of our new product launch pipeline together with cost savings expected to be achieved in the current year leaves the Board's expectations for full year performance unchanged, " the company said in its statement.
The company added that there have been no material events or changes in its financial position since July 1. McBride is scheduled to hold its 2013 Annual General Meeting today.
Copyright RTT News/dpa-AFX
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