FX.co ★ McBride 9-month Group Revenue Up 8.2% On Constant Currency Basis

McBride plc, a leading manufacturer and provider of private label and professionally made products for the home and professional cleaning and hygiene sector in Europe, reported a 8.2% increase in its group revenue for the initial nine months of the ongoing fiscal year compared to the previous year. The said increase is noted as being on a constant currency basis. This growth is attributed to an increase in volume and the prices adjustment implemented in the previous fiscal year to offset the rise in input cost inflation.

The company also noticed a 6.5% increase in overall volumes for the initial nine months of the present fiscal year compared to its preceding year. Private label volumes particularly saw significant growth, with a rise of 9.7%.

McBride plc is now projecting that the adjusted operating profit will surpass current market expectations by approximately 10%. The company also expects the net debt to adjusted EBITDA ratio to be nearly 1.6x by 30th June 2024.

The company is set to release a full-year trading update on the 16th of July 2024.