McBride plc (MCB.L), a manufacturer and supplier of private-label and contract-manufactured products, reported higher pre-tax profit despite lower revenue in preliminary results for the year ended June 30.
Shares of McBride are increasing by around 8% in the open market.
For the year ended June 30, profit before tax increased 3.3 percent to 49 million pounds from 46.5 million pounds in the prior year.
Adjusted profit before tax came in at 54.9 million pounds compared with 53.1 million pounds in the last year.
Earnings per share were 18.6 pence versus 18.8 pence last year.
Adjusted earnings per share were 21.1 pence versus 21.7 pence last year.
Adjusted EBITDA fell 1.3 percent to 85.8 million pounds from 87.1 million pounds in the previous year.
Operating profit decreased to 60.2 million pounds from 64.3 million pounds in the prior year.
Adjusted operating profit decreased to 66.1 million pounds from 67.1 million pounds.
Revenue declined 0.9 percent to 926.5 million pounds from 934.8 million pounds in the prior year.
McBride is currently trading, 8.21% higher at 116 pence on the London Stock Exchange.
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