Private Label Firm McBride Anticipates No-Deal Brexit Headaches
McBride Plc, a leading private label producer of homecare products, warned on Thursday that Britain's disorderly exit from the European Union could raise costs on imported raw materials and goods, bring on more regulatory requirements and prevent seamless travels for its employees.
The statement comes a day after the cleaning products maker forecast full-year adjusted pretax profit to be about 10-15% lower than the previous year.
In the first half of its financial year, the business posted a 10.8% increase in revenue at constant currency levels, to £369.2 million.
Adjusted operating product was up 0.6% for the period.
During the period, the Group successfully completed the sale of its European Personal Care Liquids business following the disposal of its skincare business in the Czech Republic the previous year.
“Given McBride's market leadership, sound financial position and continued growth prospects, the Group remains well placed in the current difficult trading environment to make further progress against its strategic ambitions,” commented Rik De Vos, chief executive.