McBride announces end of year performance
Last updated at 11:04, Tuesday, 04 September 2012
THE multinational owner of a Barrow detergent factory has announced an increase in operating profits.
McBride, which owns the Park Road factory, has announced a 31 per cent increase in operating profit from £13.8m in 2011 to £18.1m, in its private label household and personal care products division.
Overall revenue has increased by £1.5m from £812.4m last year to £813.9m while debt at the company has been reduced by three per cent from £87.3m in 2011 to £81.2m.
Chris Bull, chief executive, said: “This has been a year of progress, during which we have completed our margin recovery actions, rationalised our cost base, improved our operational efficiency and achieved revenue and profit growth despite declining consumer spending.”
First published at 08:39, Tuesday, 04 September 2012
Published by http://www.nwemail.co.uk
Have your say
I hope these figures provide future growth for the Barrow plant. The private label business traditionally does well in times of recession as people look to save money compared to the more expensive, traditional brands.
I worked there for 7 years and have fond memories of a great workforce.
During my time they had a very good R&D department, often beating muti-national competition to the market with the latest innovations.
It hasn't stopped the share price plummeting though!