Consumer squeeze could aid McBride

Private label household goods firm McBride yesterday said it had fought off fierce competition from branded rivals after posting record annual sales and profits.

The Manchester-based firm saw shares surge 13 per cent after delivering a 33 per cent hike in pre-tax profits to 29.6 million in the year to the end of June.

McBride, which makes own-label laundry liquids, mouthwash and toothpaste, said it had overcome a tricky period of prolonged price slashing from branded manufacturers in the UK before volumes recovered towards the end of the period.

"There is no doubt that in the current economic climate consumers are more value conscious then ever and the environment therefore continues to remain positive for private label growth," it said.