McBride PLC (LSE:MCB) roared higher as the own-label cleaning products and household goods maker confirmed its recovery is in full swing.
Revenues in the half year to the end of December j2023 jumped almost 10% to 468 million, while there was a bottom-line improvement from an operating loss of £1.3 million to a profit of £30.5 million.
“Favourable trends for private label markets expected to continue throughout 2024,” said the statement, with new contract wins to start deliveries in the second half of 2024.
As a result, full-year adjusted operating profit is now expected to be 10-15% ahead of previous internal expectations, McBride said.
“It is pleasing to see all five divisions continuing to grow on a constant currency basis,,” said Chris Smith, chief executive.
Shares rose 16% to 85.6p.