McBride sees H1 operating profit 'slightly ahead'

McBride said on Tuesday that first-half adjusted operating profit is set to be slightly ahead of its expectations, but also cautioned over supply chain volatility and ongoing inflationary pressures.

In an update for the six months to the end of December 2023, the cleaning products maker said group revenue rose 9.9% on the prior year at constant currency, benefitting from volume growth and the impact of pricing actions in the last financial year to recover input cost inflation.

Overall volumes were 6.4% higher, driven by continuing momentum in private label, where volumes grew 10.1% "as consumers continue to mitigate cost of living pressures".

"While input costs have generally stabilised, energy, employment and financing costs continue to apply inflationary pressures," McBride said. "Additionally, the group continues to manage significant supply chain volatility."

At 0850 GMT, the shares were down 8.1% at 82.51p.