McBride (MCB) Trading update summary

Executive summary

• Full year adjusted operating profit expected to align with analysts' expectations and prior two years.

• First half adjusted operating profit slightly below last year's strong performance; second half anticipated to be stronger due to new business wins.

• Ongoing strong demand for private label products, with market share in top 5 markets at recent highs.

Financial highlights

• Group revenue increased by 0.8% at reported rates for the six months ended 31 December 2025.

• Volumes grew by 0.4% year-over-year.

• Profitability maintained through product engineering, operational improvements, and cost control.

Outlook and guidance

• Second half performance expected to be favorable compared to prior year, supported by confirmed business wins.

• Solid foundation anticipated for profit growth in financial years 2027 and 2028.