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McBride scrubbing up well

A move to drastically reduce the amount of customers it has seems to have paid off handsomely for the cleaning product manufacturer.
July 11, 2016

Getting rid of three-quarters of your customers might not seem sensible but when only the remaining quarter are profitable then it's a solid strategy. This is what the recently-installed management team at cleaning product manufacturer McBride (MCB) has done and to great effect.

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The company announced this week it expects adjusted operating profit to be ahead of its previous expectations. This led broker Peel Hunt to up its estimated for this figure by £500,000 to £28.5m for FY2016.

Factors that have helped drive this rise in profitability - besides the customer reduction plan - include cost-saving initiatives and the restructuring of the UK business.