McBride Still Sees FY22 Earnings To Be Weighted To H2 Of The Financial Year

McBride plc (MCB.L), on Tuesday, issued trading update ahead of its 2021 Annual General Meeting, and said it continues to expect fiscal 2022 earnings to be weighted to the second half of the financial year.

Meanwhile, the company currently expects to incur a loss of up to £10 million at the EBITA level.

Further, the company noted that raw material and packaging costs have moved faster and to a higher level than previously expected. In addition, the shortage of haulage capacity and higher fuel costs has continued to substantially inflate distribution costs - again ahead of the Board's expectations - which show no sign of abating in the near term.

Hence, the Group said it has begun to seek a second round of substantial price increases from all its customers across all divisions, which, dependent upon specific mix, could result in a minimum of mid to high teen percentage increases.

McBride also reported that coronavirus restrictions at its Asia operations have recently been lifted and its new facility in Malaysia is ramping up production.

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