14th Oct 2013 07:24
LONDON (Alliance News) - McBride PLC Monday said group revenue has declined 3% on a constant-currency basis between July and October, but its full year performance expectations remains unchanged.
In an interim management station for the period between July 1 and October 13, the provider of private-label household and personal-care products said revenue had declined as a consequence of a wind-down in selected contract manufacturing business that was expected to continue to impact the first half of 2013-14.
However, McBride said revenue growth continued in Central and Eastern Europe.
Overall, Private Label revenue grew by 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," McBride said.
McBride said there had been no material events or changes in the financial position of the group since July.
McBride shares were untraded early Monday at 123.00 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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