McBride shares hung out to dry as sales knocked by competition October 14, 2013 MCBRIDE, the maker of own-brand household and personal care products, posted a three per cent fall in first quarter sales yesterday after deciding to wind down its contract manufacturing business last year. The soap and laundry detergent company had already warned the City that the exit of its contract cleaning business – which made products [...]
McBride hit as competition knocks profits September 3, 2013 MCBRIDE, the household products manufacturer, yesterday reported a sharp fall in sales and profits, blaming weak European consumer demand and fierce competition among branded product makers. The company, which issued a profits warning earlier this year, said pre-tax profits tumbled 21 per cent to £9.5m, down from £12.1m the previous year. Sales fell 6.5 per [...]
Bottom Line: Group needs to scour for a genuine niche April 3, 2014 INVESTORS hoping for signs that McBride had permanently cleaned up its act were left disappointed yesterday. After a second profit warning in the space of three months, the detergents maker has flagged up possible site closures and job cuts. The drastic measures come three years after McBride’s last restructuring, which went by the name of [...]
Analyst Views: Has McBride’s update changed your outlook for the company? October 14, 2013 DARREN SHIRLEY SHORE CAPITAL With McBride continuing to exit low-margin areas of contract manufacturing, we are not surprised that total revenues declined…We expect constant currency sales to remain slightly negative through the second quarter with second half sales to benefit from a stable base as the contract withdrawals are annualised. DAMIAN MCNEELA PANMURE GORDON The [...]
Analyst Views: What was your reaction to McBride’s full-year results? September 3, 2013 DAMIAN MCNEELA PANMURE GORDON Although the operating environment is unlikely to improve materially in the near term, this announcement of a re-focused senior management team should allow the business to accelerate the revenue momentum generated in the second half and improve operating margins. NICOLA MALLARD INVESTEC McBride has delivered full year 2013 results in line [...]
Asos’ profits warning is crushing online retailers March 18, 2014 This morning, Asos chief Nick Robertson delivered the surprise warning that the company’s earnings margin will decline this year to around 6.5 per cent. Shares crashed over 20 per cent on the news. The reason given is that the store’s upping its investment in warehouses in Europe, along with its new venture in China, and [...]
Bottom Line: AO could be the next online retail success February 26, 2014 WHITE goods retailer AO.com has done little to dissuade comparisons with Asos, the phenomenally successful online fashion retailer that floated 13 years ago – when it announced listing plans earlier this month it even named former Asos chairman Brian McBride (also an ex-Amazon UK managing director) to its board. Yesterday’s 32 per cent rise in shares [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
London Report: Retailers set to reveal scale of 2013 hangover January 5, 2014 RETAIL figures due this week will reveal whether Britain’s major brands are going into the New Year with a Christmas hangover. Marks & Spencer and Tesco are both set to report on Thursday, and J Sainsbury on Wednesday, with figures likely to show retailers faced a dismal festive season. Debenhams has already set the tone, [...]
Any other business – 24/09 September 23, 2013 ■ Labour MPs have been queuing up to have themselves cast in plastic at their party conference – thanks to a 3D printer stall run by Microsoft. Shadow Northern Ireland secretary Vernon Coaker was among those who were happy to have their likeness printed out using a high-tech camera and a robotic arm. But some [...]