Shares in personal care product supplier McBride (MCB) fell 14 per cent after a surprise profit warning caught the market off guard. The management team is renowned for performing well under pressure, but news of slower sales and rising costs was disappointing. Bosses say annual profits will now be in line with last year, although it’s hoped a margin of roughly 7.5 per cent is still achievable.
IC TIP:
Hold
at
194p
The main issues lie in the personal care division, which will lose approximately £5m this year versus £1m last year. The company said it will do its best to minimise costs.
