Business
Interim Results
Interim Results.
About this update from Mcbride Plc
[{"type":"text","content":"\n RNS Number : 8257M McBride PLC 05 February 2009 \n \n\nMcBride plc\n5 February 2009\n\n\nMcBride plc, Europe's leading supplier of Private Label Household and Personal Care products, announces its Half Year Report for the six months ended 31 December 2008\n \n\n\nRevenue up 14% to £392.2m (2007: £342.9m) \n\n\nPrivate Label dynamics strong across all our European markets confirming our strategy\n\n\nAs expected, adjusted operating profit1 was down to £14.3m (2007: £16.0m) due to continuing higher input costs. The operating margin was 3.6% (2007: 4.7%). Reported operating profit was £7.8m (2007: £13.5m)\n\n\nAdjusted diluted earnings per share1 were 4.7p (2007: 5.5p)1. Reported diluted earnings per share were 2.0p (2007: 4.5p)\n\n\nInterim dividend per share at 1.7 pence (2007: 1.7p)\n\n\nNet cash generated from operations before exceptional items was £27.7m (2007: £14.6m)\n\n\nNet debt was £104.7m at 31 December 2008, an increase of £1.4m in the six month period. This increase reflected £16.6m of adverse exchange rate movements, primarily on Euro denominated debt \n\n\n1 Adjusted operating profit and adjusted diluted earnings per share are calculated before amortisation of intangible assets and exceptional items\n\nMiles Roberts, Chief Executive, commented:\n\n'These results are in line with our expectations and have been achieved in a very difficult environment. We experienced revenue growth in our three largest markets; France, UK and Italy, where Private Label continues to increase share. The divisional restructuring programmes and ongoing improvements in our cost base helped offset the continued increases in our raw material costs. Operating cash flows also grew, reflecting our continuous focus on cash and working capital management. \n\n'Trading since the end of December has been good and our strategy remains underpinned by the consumer trend towards Private Label and our continuing focus on driving cost and cash efficiencies.'\n\n\n\n\n\n\nFor further information please contact:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMcBride plc\n\n\n020 7539 7850\n\n\n\n\nMiles Roberts, Chief Executive\n\n\n\n\n\n\n\nIan Johnson, Group Finance Director\n\n\n\n\n\n\n\nFinancial Dynamics\n\n\n020 7831 3113\n\n\n\n\nAndrew Dowler\n\n\n\n\n\n\n\n\n\n\n \n\nOverview\n\nThe Grou...