‘Extreme inflationary costs’ force private label cleaners maker into the red

The supermarket cleaners maker slipped to a loss of almost £17m in the first half of its financial year after ‘experiencing the most extreme inflationary cost environment likely to ever hit the industry’.

Manchester-based McBride, which also produces brands such as Oven Pride, reported a pre-tax loss from continuing operations of £16.8 million for the six months to December 31, 2021, compared to profit of 13 £.5million he made in the same period. period in 2020.

Group revenue also fell from £362.9m to £323.4m.

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Managing Director Chris Smith said: “The group is probably experiencing the most extreme inflationary cost environment ever in this industry.

“As we move forward through the first part of 2022, it is encouraging that we expect the final quarter of our fiscal year to see our pricing actions move closer to maturity and activity to return close to l balanced at EBITA and cash flow level.

“The outlook is of course highly dependent on our actions to achieve the exceptional essential price increases currently under discussion with our customers, as well as other external factors such as the evolution of input costs and other inflationary pressures, and the ongoing supply chain disruptions.

“The core business of the group remains strong and the dedication of the entire McBride team to solving the challenges we face is a strong demonstration of our values ​​and commitment to returning the group to profitability.”

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