McBride has reported a 3% drop in first quarter sales as a result of the wind-down of some contract manufacturing business.

The supplier of household and personal care products also said own-label sales grew by 1% during the period.

The own-label growth was slightly below expectations because of high levels of branded promotional activity in the UK, the company said.

“Although sales momentum has been slightly lower year to date we believe that the company’s pipeline of new product launches and planned cost savings should allow it to meet our current expectations,” said Panmure analyst Damian McNeela.

McNeela is forecasting 34% growth in full-year adjusted profit before tax to £24.7m.

Last week, McBride announced that it was moving its head office from London to an existing company facility in Manchester.