Updates

McBride - Trading at top end of range

February 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Ahead of interims on 27 February, McBride has said profits are running slightly ahead. Sales are c.10% higher, benefiting from both volume growth and last year’s price increases. Overall volumes were 6.4% higher, driven by private label, which is taking share with volumes up 10.1%. Many retailers have recently been massively increasing their private label participation so these gains look sustainable. Net debt has reduced to £145.7m from £166.5m in the summer with liquidity at £85m. The bit that was unnoticed by the market is that in November, McBride also terminated the 'upside sharing' mechanism agreed in connection with its banks when it had needed rescue funding in September 2022. That would have diluted the equity base by 11% ...

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THG - Strong Exit Momentum from 2023

Card Factory - Trading at top end of forecast range

McBride - Private label volumes up and contract manufacturing recovers (September 2024)

McBride -Net debt now <1.6x vs 2x expectation (June 2024)

McBride - Barnstorming H1 and a 20% eps upgrade (April 2024)

McBride - Massive eps upgrade from 5.5p to 15.1p (December 2023)

McBride (February 2016)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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