Company behind Oven Pride more than doubles half-year profits

Pre-tax profits at a Manchester-based cleaning products group, which is behind the likes of Oven Pride, more than doubled during the first half of its current financial year, new figures have confirmed.

McBride has reported profits of £13.3m for the six months to 31 December 2020, up from £6.3m during the same period in 2019.

The company’s revenue also increased from £350.4m to £362.9m over the same period.

The London Stock Exchange-listed business is also behind the likes of Surcare, Clean N Fresh and Hospec.

Chief executive Chris Smith said: “I am proud of the way our company has responded to the challenges faced by the business from both Covid-19 and Brexit in the period and with these robust financial results for the six months.

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“Our teams have shown significant commitment to complete the Compass strategy preparation and business reorganisation programme on schedule.

“The group has been operating under its new divisional structure since the beginning of 2021 and I can already start to see beneficial effects of the new management teams leading their businesses.

“The company’s consumer end markets continue to be both buffeted and enhanced in different ways by the Covid-19 environment making demand levels more variable than usual.

“As anticipated, we have seen input costs start to tick up but overall the board’s expectations for the full year remain in line with our December trading update.”

Business Live – North West