McBride lifts expectations amid solid first half

Household and professional hygiene products manufacturer McBride updated the market on its trading on Friday, noting that at its recent annual general meeting, it said full-year earnings were expected to be weighted to the first half of the year, partly reflecting weak comparatives in the prior period.

The London-listed firm said that in 2019, it experienced a weak November and December trading period, however in 2020, those months were now expected to trade “very favourably” ahead of last year, with the board now expecting first half sales growth of about 2%.

It said that improved revenue performance, combined with continued factory efficiencies, limited operational impact from the Covid-19 pandemic, lower-than-expected operating costs and input costs for certain raw material and packaging items, would see a material year-on-year improvement in first half earnings.

“Consequently, the board's current outlook for the year ending 30 June is that profit before tax is expected to be at least 10% ahead of the current market consensus of £25.2m, albeit the board remains mindful of the continued economic uncertainty created by Brexit and Covid-19, together with expected increases in certain input costs in the second half,” the board said in its statement.

McBride said it would release its half-year results on 23 February.

At 0945 GMT, shares in McBride were up 7.58% at 71p.