Edison Investment Research - McBride PLC (MCB) McBride - Another reboot

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Edison Investment Research

Toby Thorrington

McBride - Another reboot

McBride has delivered a mixed FY20 performance, with a weaker H1 and a bounce back in H2 as a result of increased demand due to COVID-19. A strategy review has been undertaken, and the company will be reorganised into separately managed product divisions. Time will tell if this will successfully address McBrideâ€™s long-term challenges, but the new CEO has a thorough knowledge of the business, and we await further details, which are due to be announced in February.

10/09/2020 2 EN

Underlying

McBride PLC

McBride is engaged as a supplier of Private Label Household and Personal Care products. Co. develops and manufactures products for the majority of retailers and main brand owners throughout the U.K., Europe and Asia. Co. operates across 12 countries, with 17 manufacturing facilities. Co. has two division: Household, which activities are managed by four regional teams: the U.K., North, South and East and also the U.K. business imports materials used for manufacturing from the European Union; and Personal Care and Aerosols, which comprises the personal care liquids, skincare and aerosols businesses.

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GB0005746358 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Toby Thorrington

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McBride - Another reboot

McBride: 1 director

McBride - Improving backdrop with cautious optimism

MCBRIDE sees a downgrade to Slightly Negative on account of less fundamental stars

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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