16th Jul 2025 12:23
(Alliance News) - McBride PLC shares fell on Wednesday, after it said annual revenue has increased at a lower rate than the prior year, and that it expects adjusted operating profit to be in line with guidance.
The stock was trading 13% lower at 132.00 pence on Wednesday afternoon in London.
The Manchester, England-based private label products manufacturer, for the year ended June 30, expects adjusted operating profit to be "in line with expectations".
The previous year, McBride's adjusted operating profit increased annually to GBP67.1 million from GBP13.5 million. In its financial 2024 annual report it said the outlook was "consistent with analyst expectations, which would represent a third consecutive year of revenue growth, with profitability levels significantly ahead of our historical average".
McBride, which serves the domestic household and professional cleaning and hygiene markets, said annual group revenue has increased by 0.7% at constant currency. In financial 2024, revenue increased 5.2% on-year, or 6.2% at CER, to GBP934.8 million from GBP889.0 million.
The company added that total volumes have increased 4.3% on-year, with private label volumes up 1.4% and contract manufacturing volumes having jumped 49%. This was "driven by the full-year impacts of significant new long-term contracts," it said.
However, McBride also stated that while demand "remains strong" for private label products, "there are signs that...market share has stabilised at current levels".
"In light of continuing inflationary pressures, many retailers are seeking value to support their consumer proposition with an increased requirement for cost out actions to support lower market pricing," the company added.
By Emma Curzon, Alliance News reporter
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