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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  McBride plc    MCB   GB0005746358

MCBRIDE PLC

(MCB)
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McBride forecasts annual profit below estimates on poor UK performance

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01/14/2020 | 03:31am EDT

Cleaning products maker McBride Plc on Tuesday forecast annual adjusted profit 15% below market expectations, citing weakness in Britain and revenue loss from its decision to stop making aerosol products in the country.

Shares of the company were trading down 17.5% in early trading.

McBride said revenue from its household products unit fell 1.4% in the six months, ended Dec. 31.

First-half UK revenues were 8% lower year-on-year, reflecting weakness in products which are for sale under retailers' own brands, often referred to as private labels.

McBride said it expects annual household revenues to shrink nearly 2%, adding that logistics costs as a percentage of its revenues continued to increase, hurt by higher distribution costs in Germany.

After a number of years of disappointing returns, McBride appointed a new management team in 2015. However, in October, McBride appointed its new chief executive officer after its former top boss stepped down from the role following a second profit warning in 2019.

The company, which makes laundry and cleaning brands including Surcare, Limelite kitchen and Clean 'n Fresh, said it has initiated a review of its strategy and operations, which it expects to report during the fourth quarter of this financial year.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Shailesh Kuber)

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Financials
Sales 2020 712 M 890 M 890 M
Net income 2020 7,00 M 8,75 M 8,75 M
Net Debt 2020 117 M 146 M 146 M
P/E ratio 2020 16,2x
Yield 2020 3,09%
Capitalization 112 M 139 M 139 M
EV / Sales 2019
EV / Sales 2020 0,32x
Nbr of Employees 3 289
Free-Float 97,6%
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Technical analysis trends MCBRIDE PLC
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 74,25 GBX
Last Close Price 0,61 GBX
Spread / Highest target 14 558%
Spread / Average Target 11 993%
Spread / Lowest Target 9 672%
EPS Revisions
Managers
NameTitle
Christopher Ian Charles Smith Chief Executive Officer & Director
Jeffrey M. Nodland Chairman
David Thomas Rattigan Finance Director
Sandra Turner Independent Non-Executive Director
Neil Simon Harrington Independent Non-Executive Director
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