McBride boosted by fourth quarter

24th Jun 2009 07:33

McBride, the own private label household and personal care products supplier, expects underlying profits this year of not less than £35m after better than expected fourth quarter revenues."Group revenues in the fourth quarter (to 30 June) are stronger than the previous quarter reflecting continuing strong growth in France and Italy, and an improvement in UK sales including some contract gains. Year on year revenue growth on a constant currency basis is expected to be 6% for the fourth quarter," McBride said.For the full year revenue growth, on a constant currency basis, is expected to be 4%, benefiting from Private Label gaining market share in major markets, it added. Operating profits for the year ended 30 June 2009, before amortisation of intangible assets and exceptional items, of not less than £35m, while debt will be less than £90m."We are pleased to have ended the year strongly as demand for our Private Label offering continues to grow. Our continuing focus on driving operational efficiencies has been reflected in a satisfactory second half and full year operating performance," Miles Roberts, chief cxecutive, commented.