11th Jan 2017 08:51
LONDON (Alliance News) - McBride PLC on Wednesday said its trading in the first half of its financial year was "encouraging".
The private-label household goods and personal-care products firm said its has continue to make good progress on cutting costs and improving margins in the business, though reported underlying revenue, in constant currencies, fell 4.5% in the half-year to the end of December year-on-year.
Underlying revenue was broadly flat against the second half of its prior financial year, McBride said, and around 2.5% of the sales reduction was down to the company refocusing its client base on more profitable contracts.
The group said the margin improvements it has made mean it remains on track to meet its adjusted operating profit expectations for the year to the end of June 2017.
McBride will publish interim results on February 22.
Shares in McBride were down 0.7% to 179.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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