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McBride : FY Outlook On Trading Unchanged, Sees Modest Improvement In Y-o-Y Profitability

McBride plc. (MCB.L) said that its full year outlook on trading remains unchanged, with its current expectations for a modest improvement in year-on-year profitability.

In its trading update ahead of its 2020 Annual General Meeting to be held later Monday, the company said it expects earnings growth to be weighted to the first half of the year, reflecting weak comparatives in the prior period and improved margins from efficiencies, lower operating costs as well as lower input costs for certain raw material and packaging items.

Total revenues are broadly flat after the first four months and are expected to show modest growth for the first half of the year. The early part of the financial year has experienced demand patterns similar to those seen in the COVID-19 affected last four months of the year ended 30 June 2020. Both the Aerosols and Asia units have experienced strong revenue growth.

The company noted that its full year view is cautious in light of the potential for future operational challenges resulting from Covid-19, the uncertainty arising from the Brexit process and the unknown impact on consumer demand from renewed lockdowns in principal markets.

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