Professional
Added to YB: 2024-04-24
Pitch date: 2024-04-23
MCB.L [bullish]
McBride plc
+20.97%
current return
Author Info
Alluvial Capital is an investment manager with a focus on overlooked and obscure securities around the world. Sign up for the newsletter.
Company Info
McBride plc, together with its subsidiaries, manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, the Asia-Pacific, and internationally.
Market Cap
GBP 222.1M
Pitch Price
GBP 1.11
Price Target
200.00 (+14781%)
Dividend
2.41%
EV/EBITDA
3.96
P/E
6.69
EV/Sales
0.35
Sector
Household Products
Category
turnaround
Alluvial Capital Fund New Portfolio Holding: McBride plc
MCB.L: Major EU private label cleaning products mfr. COVID & inflation hit hard but now seeing strong demand as consumers trade down to private label. Margins rebounding, reinstating dividend. Trades 4.4x FY24 EBITDA, 5.9x earnings. Expects 10% EBITDA margin LT. £320M EV could be 3x EBITDA in years. Alluvial bought at 97-99p, sees 200p fair value on low LSE small cap valuations post-Brexit.
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