LONDON (dpa-AFX) - Shares of McBride plc (MCB.L) were losing around 8 percent in the early morning trading in London after the manufacturer of private label and contract manufactured products, Thursday said it now expects fiscal 2022 adjusted profit before tax to be 55 percent - 65 percent lower than current market consensus for full year 2021.
The current market expectation for full year 2021 is adjusted profit before tax of 19.7 million pounds.
The Board previously indicated that, at that time, it would not be offering guidance on the outlook for financial year 2022, as a result of uncertainty surrounding the volatile input cost environment and the success and timing of pricing actions.
In its trading update for the current financial year ending June 30, 2022, McBride said its first half of current year is now expected to see EBITA at approximately break-even, with profits therefore heavily weighted towards the second half of the year.
The company noted that although only 7 weeks into the new financial year, the previously highlighted raw material environment remains extremely challenging both in terms of exceptional price increases and supply availability.
In London, McBride shares were trading at 78.20 pence, down 7.78 percent.
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