Rolling coverage of the latest economic and financial news
- Latest: Private sector growth hits 10-month low
- Pub chain boss: thousands of businesses will fail in January
- Bank of England to set interest rate at noon
- Hospitality calls for more support from Omicron hit
- Resolution: targeted furlough scheme needed
- As cost of food and fuel soars, is there an appetite to raise UK interest rates?
UK cleaning products maker McBride continues to be hammered by cost pressures.
The firm behind the Oven Pride cleaning products warned it expects to make a larger half-year loss, as high packaging costs, pricier fuel and shortages of lorry drivers push up its expenses.
“It is usually a bad sign when a company flags that profits will be more weighted toward the second-half than usual and it often implies that management has the prayer mat out and is hoping something helpful will turn up.
In McBride’s case, something has turned up, but it is more trouble, in the form on more inflationary cost pressures, not more help.
It looks like McBride is the meat in the sandwich between suppliers and buyers and its profits – and share price – are being squeezed accordingly.
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