Mcbride (MCB)

Sector:

Household Goods

Index:

FTSE Fledgling

20.00p
   
  • Change Today:
      1.83p
  • 52 Week High: 87.20
  • 52 Week Low: 15.50
  • Currency: UK Pounds
  • Shares Issued: 174.02m
  • Volume: 359,323
  • Market Cap: £34.80m
  • RiskGrade: 140

McBride warns of bigger first-half loss amid rising costs

By Michele Maatouk

Date: Thursday 16 Dec 2021

LONDON (ShareCast) - (Sharecast News) - McBride shares tumbled on Thursday after the cleaning products maker warned that it would suffer a bigger loss than initially expected for the first half amid rising costs.
The company now expects to report an adjusted loss before interest, tax and amortisation of between £14m and £17m for the six months ended 31 December 2021. It had said in October that it was expecting a loss of up to £10m.

"The increase in this loss compared to our previous update in October is a consequence of the ongoing rapidly rising input costs and the timing of pricing agreements," McBride said. "At this stage, our wide range of outcomes is a result of pricing delays with a small number of customers and the resultant implications, which could impact short term volumes."

The company said raw material and packaging costs have continued to experience "very significant" inflationary pressures with availability still impacting its supply chain efficiency. In addition, the shortage of haulage capacity and even higher fuel costs has not abated and have continued to substantially inflate distribution costs.

"McBride has been actively engaged with all its customers to secure substantial price increases to mitigate the impact of these exceptional cost rises affecting the whole industry. Our early increases in late summer have now been outpaced by further rises in input costs and hence further pricing action has been underway more recently," it said.

"It is pleasing to see the support of most customers to these price increase requests with the effect of these further increases starting to benefit December trading and delivering more fully from January onwards."

At 0900 GMT, the shares were down 10.5% at 53p.

Russ Mould, investment director at AJ Bell, said: "It is usually a bad sign when a company flags that profits will be more weighted toward the second-half than usual and it often implies that management has the prayer mat out and is hoping something helpful will turn up. In McBride's case, something has turned up, but it is more trouble, in the form on more inflationary cost pressures, not more help.

"The manufacturer of own-brand cleaning liquids, powders and aerosols now flagging a greater-than-expected first-half loss due to higher input costs, higher fuel costs and shortages of haulage capacity."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Mcbride Market Data

Currency UK Pounds
Share Price 20.00p
Change Today 1.83p
% Change 10.04 %
52 Week High 87.20
52 Week Low 15.50
Volume 359,323
Shares Issued 174.02m
Market Cap £34.80m
RiskGrade 140

Mcbride Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
72.07% above the market average72.07% above the market average72.07% above the market average72.07% above the market average72.07% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Price Trend
95.15% below the market average95.15% below the market average95.15% below the market average95.15% below the market average95.15% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
76.24% below the market average76.24% below the market average76.24% below the market average76.24% below the market average76.24% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 2
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Mcbride Dividends

  Latest Previous
  Final Final
Ex-Div 22-Oct-20 24-Oct-19
Paid 27-Nov-20 30-Nov-19
Amount 1.10p 1.80p

Trades for 12-Aug-2022

Time Volume / Share Price
16:35 103,328 @ 20.00p
16:20 6,000 @ 19.86p
15:38 4,843 @ 20.30p
15:21 4,862 @ 20.30p
15:19 2,500 @ 19.86p

Mcbride Key Personnel

CEO Christopher Ian Charles Smith
Chair Jeffrey Nodland
CFO Mark Strickland

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