Europe's leading provider of Private Label Household and Personal Care products

Company Website

Financial Calendar

Recent Broker notes

BarChart Indicators

Recent Market news

McBride Fundamentals

Half Yearly Report

· Revenue increased by 0.4% on a constant currency basis. On a reported basis, revenues were 5.6% lower due to the impact of a weaker Euro on translated results.
· Group adjusted operating profit increased 57.1% on a constant currency basis (40.8% as reported).
· New segmental analysis, splitting the Group's activities into two divisions, Household and Personal Care/Aerosols ("PCA"), with Household representing approximately 80% of the Group's revenue:
· sales in Household were 0.9% higher overall with growth across most regions except in the UK, where an 8.2% fall was driven by lower private label sales and the end of some contract manufacturing business. Germany continued the progress seen last year, while France delivered growth mostly from contracts; and
· PCA saw a 1.5% sales decline, with a weak UK offset by good gains in Eastern Europe and strong growth in Asia.
· UK restructuring project on track to deliver annualised savings of £12.0 million by 30 June 2016.
· Actions from the "Repair" phase of the Group's new strategy is well under way, with plans to lower complexity through the rationalisation of our customer base down to 25% of our existing customer portfolio on track to be complete by 30 June 2016. Additionally, new purchasing initiatives started delivering benefits in the first half year.
· Adjusted profit before income tax up by 56.3% to £13.6 million (2014: £8.7m).
· Net debt at £86.3 million represents 1.6x annualised adjusted EBITDA.6
· Interim payment to shareholders of 1.2 pence, in line with new policy outlined in September 2015.
· Our Chairman Iain Napier has informed the Board of his intention to retire at the end of June this year by which time he will have completed nine years in the position.

Liberum Capital Buy 170.00 200.00 215.00 Reiterates

Panmure Gordon Buy 170.00 200.00 200.00 Retains

5+ year high @179.00p.

The unnamed partner announced today by Versarien (VRS) is McBride. Check out the matching description:

http://ir1.euroinvestor.com/asp/ir/Versarien/NewsRead.aspx?storyid=13934585&ishtml=1

http://www.mcbride.co.uk/about-us/the-investment-case