Business

McBride, the manufacturer of private label products and packaging, said it anticipates its underlying operating profit to be around £26m for the year ended 30 June 2008, down from £34.5m last year.

The company said that year-end net debt is expected to be less than £105m, with positive underlying cash flows in the second half of the year offset by a strengthening of the Euro against sterling.

In a trading statement Miles Roberts, chief executive, said: "The current year has been characterised by sharp and continued rises in our input costs. In response, we have successfully obtained selling price increases from our customers and, given the continued volatility in the input cost environment, our pricing remains under active review."

McBride will announce its preliminary results on 4 September.