McBride, the British manufacturer of private-label cleaning products and owner of the Oven Pride brand, stated yesterday that it had delivered strong financial and operational performance over the year to 30 June 2024.
In a trading update before the release of its full results in September, the group said it anticipates that adjusted operating profit will be in line with recently upgraded current market expectations.
Group revenue was 6.2% higher during the year, driven by strong volumes. McBride’s overall sales volumes rose 5.7%, with private label volumes growing 7.2%. “The improvement in demand for our products has been driven by a combination of business wins and strong demand increases on existing private label contracts,” the company said.
“We continue to make encouraging progress in our strategic and focus markets, as outlined in our recent Capital Markets Day, driven by our strengthening customer partnerships.”
McBride noted that contract manufacturing volumes also grew 13.4% in the second half, driven by the recent commencement of a new long-term contract.
In February of this year, the company raised its profit expectations after benefitting from price-conscious consumers shifting to private-label products.
NAM Implications:
- All good for McBride.
- And based on good products on the back of well-managed clients.
- Inevitable, in the current climate…
