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McBride warns on profits as input costs jump
StockMarketWire.com
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Cleaning product supplier McBride downgraded its annual earnings guidance, citing rising input costs and weaker sales.
Earnings before interest, tax and amortisation for the year through June were now seen falling about about 15% year-on-year.
McBride said it had experienced a 'further rapid, significant and sustained' price escalation for many of its raw materials, particularly core chemicals and plastics.
It did not see prices returning to more normalised levels in the near future.
On the sales side, demand for auto-dishwash products had remained strong but volumes in household cleaners had been normalising from peaks seen in 2020.
Second-half constant currency revenue was now expected to fall around 6%.
At 10:06am: (LON:MCB) McBride PLC share price was 0p at 66.2p
Story provided by StockMarketWire.com
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