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Friday, 21 November 2014

Barrow based soap producer reports dip in revenues

PRIVATE label soap producer McBride is due to unleash 60 new products in a bid to accelerate growth.

The company, which has a principle site in Barrow, has reported sales down two per cent in the six months up to December 31 and overall revenues have fallen by six per cent – believed to be the result of a wind down in manufacturing.
Pre-tax profits are expected to be 12 per cent higher than in the same period a year earlier at about £11.5m.
McBride’s board has said it expects adjusted operating profit for the first half to be around 12 per cent higher than the same period in the previous year.
Despite plans to launch new products the company has remained tight lipped and said it is unlikely to create new jobs in the short term future.
Chris Bull, chief executive of McBride, said: “As we reported at the full year and again at our Q1 IMS in October, our financial performance this year will be second-half weighted reflecting a wind-down in contract manufacturing that is allowing us to grow our Private Label business.
“I am therefore pleased that we expect to report first half revenue growth at constant currency of 2 per cent in our core and future Growth categories, as Private Label has continued to win market share from the branded competition.
“We have in place an exciting programme of product launches for the second half that will accelerate further our private label revenue growth.”
The Group intends to announce its interim results for the six months ending December 31 on February 7.

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