23rd Jun 2005 07:02
McBride PLC23 June 2005 23 June 2005 McBride plc PRE CLOSE STATEMENT McBride plc ("the Group"), Europe's leading supplier of household and personalcare retailer brand products, is pleased to provide an update on trading priorto entering its Close Period relating to the twelve months ending 30 June 2005. As foreshadowed in the interim announcement in February, the trading environmentremains very competitive. The Group anticipates that the operating profit beforegoodwill amortisation and exceptional items will be in the region of £35m forthe full year to 30th June 2005. This profit has been held at the same level aslast year. The Group continues to focus on growing profitable sales in addition toimproving operational efficiency and asset utilisation. A number of initiativesare planned that will further improve the Group's cost base. These initiativesinclude the closure of a factory following transfer of its production to anothergroup facilty. The Board anticipates that these initiatives will result in anexceptional charge of approximately £3m. Underlying cash generation from trading remained strong during the year with netdebt forecast to be in the region of £25m at the year end after the net cost ofshare repurchases of £6m . The Preliminary Results for the twelve months ending 30 June 2005 will beannounced in September 2005. For further information:Mike Handley, Chief Executive, McBride plc, +44(0)1494 607050Miles Roberts, Finance Director McBride plc, +44(0)1494 607050Andrew Dowler, Financial Dynamics, +44(0)20 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Mcbride