Business
Half Yearly Results
Half Yearly Results.
About this update from Mcbride Plc
[{"type":"text","content":"\n RNS Number : 6532G McBride PLC 04 February 2010 \n \n\n \n \nMcBride plc\n4 February 2010\n \nMcBride plc, Europe's leading provider of Private Label Household and Personal Care products, announces its Half Year Report for the six months ended 31 December 2009\n \n· Revenue up 5% to £412.4m (2008: £392.2m) \n· Adjusted operating profit1 improved to £26.5m (2008: £14.3m). Reported operating profit was £25.5m (2008: £7.8m). Adjusted operating margin1 improved from 3.6% to 6.4%\n· Adjusted diluted earnings per share1 were up 106% to 9.7 pence (2008: 4.7p). Reported diluted earnings per share were 9.2p (2008: 2.0p)\n· Return on capital employed1 improved to 26.6% (2008: 12.7%)\n· Interim dividend per share increased 18% to 2.0 pence (2008: 1.7p)\n· Continuing strong cash flow with net cash generated from operations before exceptional items at £48.8m (2008: £27.7m). Net debt reduced £13.0m in the six months to 31 December 2009 to £69.4m\n· Today we have announced that we are entering into consultation to restructure and consolidate our Italian operations with an estimated cash cost of £6.5m and a 3 year payback\n1 Adjusted operating profit, adjusted operating margin, adjusted diluted earnings per share and return on capital employed are calculated before amortisation of intangible assets and exceptional items\n \n \nMiles Roberts, Chief Executive, commented:\n \n\"These results demonstrate that our Private Label strategy, which focuses on growing higher margin products, operational efficiencies and tight cash management, is working well.\n \nThere has been good sales growth in our core categories including Personal Care. All our divisions have posted higher operating profits and returns. Net debt has reduced to £69.4m and we are pleased to announce an 18% increase in our interim dividend.\n \nTrading since the end of December has been in line with our expectations and whilst our markets remain highly competitive we are confident in the outlook for the remainder of the year.\"\n \n \n\n\n\n\nFor further information please contact:\n\n\n\n\n\n\n\nMcBride plc\n\n\n020 7539 7850\n\n\n\n\nMiles Roberts...