A EUROPEAN leader of providing household and and personal care products, which has a base in Barrow, has reported an encouraging improvement in operating profits.
McBride plc has announced its results for the year ended 30 June 2015 and the outcome of its strategy review to focus on manufacturing excellence and to provide a platform to deliver growth.
The firm says adjusted operating profits are up to £28.5m, from £22m last year, with the operating margin rising to 4.0 per cent from 3.0 per cent in 2014.
Rik De Vos, chief executive officer for McBride plc said: "Despite the extremely tough retail environment, the Group has reported revenues broadly flat and an encouraging improvement in operating profits, achieved primarily through reduced costs.
"The group has made a satisfactory start to the new financial year with the benefits of cost reduction programmes evident. The result of our strategy review is being announced today, and we are excited about the opportunities available to the Group to utilise its scale more effectively to seek to deliver growth in operating profit margin.
"We have commenced our transformation plan and the McBride team is now embarking on a period of change to reposition McBride for a more sustainable future.”
Iain Napier (pictured), chairman of McBride plc said: “The board is pleased and encouraged by the way the new executive team have effectively recommended and concluded on the Group’s new strategic direction. Together with the new executive leadership team, the board is confident on the delivery of the new strategy.”
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