Contract manufacturer McBride expects 'modest growth' in revenue in the first half of its financial year 2020/21, the company said in a trading update.
The early part of the financial year witnessed demand similar to those seen in the last four months of its fiscal year ended 30 June 2020, it said.
Strong demand for bleach, auto, dish and surface cleaning products was offset by lower demand for laundry products in the initial months of its new financial year.
Its aerosols and Asia divisions experienced strong revenue growth in the first four months of 2020/21, the company added.
Outlook
McBride has kept its full-year outlook unchanged and predicted a modest improvement in year‑on‑year profitability.
The company added that it remains cautious of future operational challenges resulting from COVID-19, the uncertainty arising from the Brexit process, and the impact of new lockdowns on consumer demands in its principal markets.
The group will announce interim results for the first half on 23 February 2021.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
