UK’s McBride lowers profit view on rising costs, driver crunch By Reuters

(Reuters) – British cleaning products maker McBride said on Thursday annual earnings would likely be hit by an “exceptional” rise in costs of raw materials and distribution challenges due to a shortage of lorry drivers.

The company said adjusted pretax profit for the year ending June 30, 2022 will be 55%-65% lower than the current analyst consensus for fiscal 2021.

McBride said it had agreed with customers over price increases, which would be implemented later than initially targeted.