📈 69% of S&P 500 stocks beating the index - a historic record! Pick the best ones with AI.See top stocks

Oven Pride maker McBride sees early signs of volume recovery

Published 29/09/2022, 13:02
© Reuters.
MCB
-

(Reuters) -British cleaning products maker McBride said on Thursday it was seeing some early signs of recovery in its volumes following a tough year, as it deals with rising input costs and supply chain snags.

The company's shares rose 22%.

Manufacturers in the UK are battling higher costs and a fall in customer spending amid decades-high inflation.

McBride said total costs for its entire range of raw materials and packaging rose by 51% between December 2020 and June 2022.

The company said that while its volumes were lower in the full year ended June 30, they were in line with its plans in the early months of the current fiscal year.

McBride reported an annual adjusted loss before tax of 29.6 million pounds ($32.18 million), compared with a profit of 19.9 million pounds a year earlier.

Earlier on Thursday, the company said it got a debt waiver extension until September 2024.

($1 = 0.9198 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.