LONDON (dpa-AFX) - McBride Plc. (MCB.L) said it now expects second half constant currency revenues to be approximately 6% lower year on year.
The company expects the final quarter of trading for the current financial year ending 30 June 2021 to be significantly weaker than the first nine months of the financial year. Full year profits (measured by EBITA) are now expected to be approximately 15% lower than the previous year.
During most of the first quarter of 202, the company has seen increases in line with its expectations. However, in recent weeks there has been further rapid, significant and sustained price escalation for many of raw materials, particularly core chemicals and plastics, the company said in a statement.
The company's current view is that it will see further double-digit increases on average across these materials and packaging items by June 2021 - more than double the rates of increase expected in mid-March 2021.
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