Own label household and personal care manufacturer McBride has reported a 13% drop in half-year adjusted pre-tax profit to £13.7m on sales up 23% at £342.9m.
Sales were boosted by recent acquisitions but margins were hit by “unprecedented” raw material costs and the time lag between cost and selling price increases.
“The board recognises that the company still needs to fully mitigate its cost pressures and the measures it has taken to secure the necessary cost recoveries are well in hand,” added CEO Miles Roberts.
Sales were boosted by recent acquisitions but margins were hit by “unprecedented” raw material costs and the time lag between cost and selling price increases.
“The board recognises that the company still needs to fully mitigate its cost pressures and the measures it has taken to secure the necessary cost recoveries are well in hand,” added CEO Miles Roberts.
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