McBride plc : - Interim Management Statement

McBride PLC

Interim Management Statement

McBride PLC, Europe's leading provider of Private Label Household and Personal Care products, provides its interim management statement for the period from 1stJanuary to 8th May 2013.

Group revenue at constant currency was 5% lower than prior year.  Private Label revenue grew by 1%, with Core and Future Growth categories growing by 3%, while contract manufacturing revenue declined by 29% as a consequence of the previously-announced wind-down of this segment.

The revenue, margin performance and competitive environment of the Group, during the period since our trading update of 21st March, have been in line with the Board's expectations.

Net debt at the end of June is expected to be higher than previously forecast at around £90m as a consequence of currency movements and a temporary increase in working capital.

Chris Bull, Chief Executive, commented:

"Our market outlook remains challenging, with weak consumer demand in Western Continental Europe and ongoing branded promotional activity in UK.  Despite this, our private label revenue has seen improving growth through the half driven by our programme of product launches and a continued strong performance in Central and Eastern Europe."

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