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UK's McBride Gains rom Private Label Demand Amid High Inflation

British cleaning products maker McBride said on Tuesday that it returned to profits in the final two months of its first half, thanks to higher prices and demand for private label products amid a cost-of-living crisis.

The loss-making group, which has been struggling with mounting costs, said it expects to report a 'small' adjusted operating loss before exceptional items for the half year.

Shares of the London-listed group rose 3% in early trading.

'Offset Pressure'

The company said it was looking to offset pressure from energy, employment and raw material costs by raising prices and cutting expenditure.

Manufacturers in the UK have been battling higher costs and a fall in customer spending amid decades-high inflation.

McBride said its revenues for the half year were 31% ahead of the previous year, helped by a recovery in its volumes and a moderate easing in input costs.

Hygiene Markets 

McBride leading European manufacturer and supplier of Private Label and Contract Manufactured products for the domestic household and professional cleaning and hygiene markets.

With trading roots dating back to 1927, the company employs  in the region of 3,400 people across 18 locations in 12 countries.

According to the company it sells over one billion products each year.

McBride produces a wide range of cleaning products across five divisions such as powders and liquids.

Read More: McBride's Shares Slump After Warning On Bigger Loss As Costs Surge

News by Reuters, edited by Donna Ahern, Checkout. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.

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Enjoy the most important stories from the world of Irish grocery retail, curated for you by our team of experts every week.
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