McBride PLC (LON:MCB) said it delivered strong sales growth in its first quarter which had offset higher raw material, packaging and logistics costs.
The consumer good company on Tuesday said that first quarter continuing revenues at constant currency were 15.4% higher than the prior year. Excluding the benefit of first quarter revenues from its recently acquired Danlind business, continuing underlying revenues were 5.5% higher.
READ: McBride profits drop but revenues lifted by Danlind acquisition
Underlying sales in its household division were 5.3% higher, primarily as a result of higher sales in the East and UK regions, which were up 20.8% and 11.3% respectively, it said.
The manufacturer and supplier of private label products said during the first quarter, raw material and packaging costs together with logistics costs, especially in northern Europe, had been slightly higher than anticipated but had been mitigated by improved sales volumes and lower overheads.
The company said that in the absence of further near-term raw material and packaging cost rises, it expects full-year earnings to be in line with its expectations.
"The group is busy completing the sale of PC Liquids, integrating Danlind and managing revenue growth to expectations. Margins continue to be a key focus especially against the backdrop of potentially further increased input costs,” CEO Rik De Vos said in a statement.
“We continue to outperform our sector both financially and operationally in what is a particularly challenging environment and the Group is strongly positioned to exploit further growth and margin opportunities in the coming year and beyond."
Shares in McBride were 0.65% up at 139.70p in early trade.