There is a revival of own label growth in the UK and Europe, according to household and personal care products manufacturer McBride.
Reporting its annual results, McBride said own label market shares and growth were increasing in most of its major markets. Laundry and cleaning products, McBride's largest categories, saw own label reach a 24.8% value share in the UK in the quarter to June compared with 22.4% last year.
Chief executive Mike Handley said McBride was reaping the benefit of sustained investment in innovation and production efficiencies over the last two years. "Innovation continues to be crucial to our long term success," he said.
Operating profit from ongoing business was up 26% for the year to June 30 to £24.8m, although pre-tax proft was depressed to £2.2m by a £15.8m write-off of goodwill on a joint venture. Turnover for continuing business was up 3% to £484m and margins rose from 4.2% to 5.1%.
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Reporting its annual results, McBride said own label market shares and growth were increasing in most of its major markets. Laundry and cleaning products, McBride's largest categories, saw own label reach a 24.8% value share in the UK in the quarter to June compared with 22.4% last year.
Chief executive Mike Handley said McBride was reaping the benefit of sustained investment in innovation and production efficiencies over the last two years. "Innovation continues to be crucial to our long term success," he said.
Operating profit from ongoing business was up 26% for the year to June 30 to £24.8m, although pre-tax proft was depressed to £2.2m by a £15.8m write-off of goodwill on a joint venture. Turnover for continuing business was up 3% to £484m and margins rose from 4.2% to 5.1%.
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