McBride has reported a halving of pre-tax profits during the second half of last year.

On sales up 14% to £392.2m, the own-label personal care and household products manufacturer reported a 55% decline in pre-tax profit to £5m for the six months to 31 December.

Chief executive Miles Roberts said the results were in line with expectations. Despite a fall in oil prices, cost increases because of the weak pound were hampering a recovery.

The company’s UK sales grew 6% to £161.5m thanks to shoppers switching to own label, he claimed.

“We experienced revenue growth in our three largest markets; France, UK and Italy. Consumers haven’t got the money to waste on brands.”

He added that the company’s restructuring programme, where its Coventry and Warrington sites are relocating to a new facility in St Helens, will improve efficiencies.