Image source: © 2025 Krish Capital Pty. Ltd.

Highlights:

  • MCB FY25 volumes rose 4.3% YoY, with contract manufacturing up nearly 49%.
  • McBride reduced net debt to GBP 105.2 million, down GBP 26.3 million from June 2024.
  • Group expects FY25 adjusted operating profit to meet market expectations.

McBride plc (LSE:MCB), a UK-based manufacturer and supplier of private label and contract-manufactured cleaning and hygiene products, has issued a trading update for the twelve months ended 30 June 2025. The company expects its full-year adjusted operating profit to be in line with market expectations, maintaining the financial improvement trend seen in recent periods. Group revenue increased by 0.7% on a constant currency basis compared to the prior year. Volume growth was a key driver, with overall volumes rising 4.3%. This included a 1.4% increase in private label volumes and a significant 48.9% increase in contract manufacturing volumes, primarily reflecting the full-year impact of major long-term contracts secured earlier.

Despite stable demand for private label products, the company noted that market share in this segment appears to have levelled off. Retailers, facing ongoing inflationary pressures, are placing increased emphasis on cost-saving measures to maintain competitive consumer pricing. This trend has influenced procurement dynamics, as clients focus on value and cost efficiency. The contract manufacturing division benefitted from scaled-up operations following new contract wins, contributing significantly to overall volume growth. McBride has not provided detailed revenue or profit figures at this stage, with full financial results scheduled for release on 17 September 2025. One of the key financial developments during the period was a continued reduction in net debt. Net debt at 30 June 2025 stood at GBP 105.2 million, compared with GBP 131.5 million at the end of the previous financial year, representing a reduction of GBP 26.3 million. This improvement brought the Group’s net debt cover ratio to 1.2x.

In January 2025, McBride announced its intention to reinstate annual dividend payments. Further details, including any final dividend proposal for FY25, will be confirmed in the full-year results announcement. The Group continues to operate across several strategic geographies in Europe and supplies products for both private label and contract manufacturing customers. Its offering includes cleaning, hygiene, and household care items for both domestic and professional markets.

McBride’s management noted that while inflationary input costs remain a concern across supply chains, its commercial approach is adapting to reflect the current market environment, including retailer requirements for more flexible cost structures. The company did not issue forward guidance in the update but reaffirmed that current trading remains consistent with expectations.

MCB trading at 10.63% lower at GBX 135.66 per share as on 16 July 2025.