McBride profit up despite raw materials price hike

first_img McBride, Europe’s biggest maker of retailer own-brand household and personal care goods, said it faced rising raw material costs and weak retail markets as it met forecasts with a 38 per cent rise in annual profit.However the British-based group, which warned about a tough outlook in June, said it was better placed to cope with challenging conditions than in the past and that trading since its financial year-end was in line with its expectations.It also said it had agreed to buy an initial 70 per cent interest in Dermacol, a privately owned, Czech-based manufacturer of skincare products for an expected £8m. It will buy the rest in 2017.McBride, which is looking to expand into faster-growing emerging markets and higher-margin personal care products, said it made an adjusted operating profit of £50m in the year ended 30 June.The full-year dividend was lifted 13 per cent to 6.8 pence a share, while net debt was cut by £22.4m to £60m.Chief Executive Chris Bull said: “Although weak retail markets and raw material inflation will remain challenging in the short term, our balance sheet remains strong.“McBride is better placed than previously to manage raw material cost inflation,” he added. McBride shares have lost 22 per cent of their value since the June warning on worsening trading conditions. McBride profit up despite raw materials price hike Show Comments ▼ John Dunne whatsapp whatsapp Sharecenter_img Tags: NULL Thursday 2 September 2010 3:23 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Prooflast_img read more