McBride has signalled plans to ditch “non-profitable business” after reporting a marginal rise in sales for the past year.
The cleaning products manufacturer blamed tough trading conditions in the UK as total sales for the year to 30 June edged up just 1%. The growth was driven a strong performance in Central and Eastern Europe, the company said.
It said moves to cut costs from its supply chain would result in a one-off outlay of around £20m. Profits would be “in line with [the board’s] expectations”, the company said, having in May announced that raw materials costs meat hit its bottom line by £5m.
Debt at the end of the year is expected to stand at £84m. The group will announce its preliminary annual results on 6 September.
Raw materials costs hit McBride profits (3 May 2011)
McBride blames materials costs for slump in profits (8 February 2011)