McBride sees rising revenue offsetting higher raw material costs
Source - SMW
Cleaning product manufacturer McBride said it expected higher revenue to help offset rising input costs and keep annual earnings in line with its expectations.
In the first quarter, revenue rose 15.4%, on a continuing and constant currency basis.
Excluding the contribution of Danlind, continuing revenue grew 5.5%.
Underlying household division sales rose 5.3%, primarily as a result of higher sales in the East and UK regions.
'During the first quarter, raw material and packaging costs together with logistics costs, especially in northern Europe, have been slightly higher than anticipated, but have been mitigated by improved sales volumes and lower overheads,' McBride said.
'At this time, there is increased volatility and uncertainty around future raw material and packaging cost levels and whilst the group will always seek to recover or mitigate any increased input inflation, the timing of these actions typically lag their impact.'
'In the absence of further near term raw material and packaging cost rises, the board expects full year earnings to be in line with expectations.'
At 9:53am: (LON:MCB) McBride PLC share price was -4.2p at 134.6p