Household products manufacturer McBride has reported a 7.2% increase in private-label volume sales in its 2023/24 financial year, reflecting the group's 'focus on customer partnerships', it said in a statement.
Overall sales volumes were up 5.7%, with the business saying that the market for private label household cleaning products 'continues to grow'.
For the full-year period ending on June 30, the company reported revenue of £934.8 million (€1.10 billion), reflecting a 6.2% increase at constant currency levels. Adjusted operating profit was £67.1 million (€79.2 million), which the group noted was "slightly ahead" of market expectations.
Net debt at the end of the year stood at £131.5 million (€155.2 million), representing 1.5 times the company's adjusted EBITDA.
Volume growth was particularly notable in laundry products (up 8.0%) and in the group's German operations (up 6.2%), it noted.
'Effective Execution'
"While market dynamics have remained favourable, with a continued consumer trend towards private label across European household cleaning product markets, it is the effective execution of our strategy that has led McBride to capitalise on this environment," commented Chris Smith, chief executive.
"Our efforts to further develop our customer partnerships, together with improved consumer insights to support product range developments and innovation led by our specialist divisional teams, will continue to drive future growth."
Profitable Growth
Smith added that "strong operational delivery, focused growth initiatives, and effective cost and margin management", have led McBride to report profitable growth across each of its divisions over the financial year.
The group's transformation programme, meanwhile is "progressing to plan", with a number of key projects set to move to delivery phase over the coming year.
