British cleaning products maker McBride is trading in line with expectations despite an uncertain political and macro-economic environment, according to a trading update.
The contract manufacturer added that it is making progress in its strategic initiatives as identified in project compass and has significantly improved customer service levels following the appointment of a new group logistics director.
The company has seen a 29% increase in revenue in the first four months.
Demand For Household Products
The overall market for household products has declined on a year on year basis but the group is focusing on executing its volume and revenue plans backed by new clients and private label share growth.
The Oven Pride maker has balanced higher input costs in the early part of the year by implementing strict cost control measures.
The company cautioned that tight supplies of certain raw materials and packaging items and concerns over energy prices in the winter are driving input prices upwards and production of certain materials downwards.
As a result, it is continuing to seek mitigations with customers to consider further price increases or product engineering, with the size of the required margin recovery widely varying between product families.
In September of this year, McBride said it was seeing some early signs of recovery in its volumes following a tough year, as it deals with rising input costs and supply chain snags.
© 2022 European Supermarket Magazine – your source for the latest private-label news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.