Return to sales doubles McBride profit

CONCENTRATING on a return to selling own-label household products instead of holding takeover talks has benefited Buckinghamshire-based McBride. The company said pre-tax profits doubled to £8.2m in the first six months of its financial year to December. Talks that had involved Jon Moulton's private equity house Alchemy in a possible £150m bid were terminated by McBride in November.

Margins for its household and personal care products sold to supermarket customers such as Tesco, Sainsbury's and Superdrug have improved on sales of £239.6m against £232.4m the previous period.

Chief executive Mike Handley said sales in Europe, where the group now has 50% of its earnings, are enjoying 'steady growth'. The group is to restore the interim dividend at 0.7p. The shares added 7 1/2p to 50 1/2p.