LONDON (ShareCast) - Private label consumables group McBride warned that trading conditions in the UK continued to be challenging, but said that with a combination of new products and cost savings, it remains confident that full year expectations will be reached.

The company, which makes home-brand household and personal care products, said revenue declined by 3% from July 1st to October 13th at constant currency.

"This was as a consequence of the previously announced wind-down in selected contract manufacturing business that was expected to continue to impact the first half of 2013/14," the group explained.

Revenue growth in Central and Eastern Europe remained robust. Overall Private Label revenue grew by 1%, slightly less than expected after increased promotional activity from branded rivals in the UK.

"Although trading in UK continues to be challenging, the combination of our new product launch pipeline together with cost savings expected to be achieved in the current year leaves the board's expectations for full year performance unchanged," it said in a statement.

McBride said there have been no material events or changes in the financial position of the group since July 1st 2013.


CJ

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