19th Aug 2021 10:42
(Alliance News) - McBride PLC on Thursday said it expects to report double-digit fall in profit in its current financial year.
The cleaning products manufacturer said raw material environment remains extremely challenging both in terms of exceptional price increases and supply availability.
In addition, the company said it has started to experience distribution challenges, particularly in the UK and Germany as a result of the shortage of heavy goods vehicle drivers which has impacted upon both transport availability and cost.
The six months to the end of 2021 are now expected to see earnings before interest, tax and amortization at break-even, with profit therefore heavily weighted towards the second half of the financial year to the end of June 2022.
McBride also said it expects adjusted pretax profit for financial 2022 to be 55% to 65% lower than current market consensus for full year 2021, which stands at GBP19.7 million.
The company said it will report its results for the financial year to June 30 on September 7.
McBride shares were trading 9.7% lower in London on Thursday at 76.57 pence each.
By Evelina Grecenko; [email protected]
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