McBride PLC (LSE:MCB), the own-label domestic cleaning and hygiene products maker, confirmed it would meet its recently upgraded profits and sales target in the year to June just ended.
“Group revenue was 6.2% higher for the full year on a constant currency basis, and 5.2% higher at reported rates, primarily driven by strong volumes, with overall sales volumes up 5.7% and private label volumes up 7.2%.”
New customers and “strong demand increases on existing private label contracts,” drove the improvement, said the statement.
Contract manufacturing volumes grew 13.4% in the second half, McBride added, driven by fourth quarter volumes as a significant new long-term contract started up.
Net debt at the year was £131.5m, a £14.2m reduction compared to the same time last year.
The group's full-year results will be announced on 17 September with current market forecasts adjusted operating profits of £66.4 million.
Possibly because there was no line on current trading trends the shares, which have soared this year, eased 7.8% to 130p.