Europe's top ranked private label supplier McBride has revealed that it has seen a 7% rise in revenue so far in the current fiscal year. High demand from shoppers, more than expected favorable rates of exchange and more contract gains are being credited by the firm as key elements which have boosted its performance in times when most other companies have been hit hard by the economic downturn.

The figures posted by McBride have been even better than what was posted last year, around the same time.

Commenting on the performance, Miles Roberts, Chief Executive said, "We have built on the good start we made to the current financial year. Our markets remain highly competitive and will continue to be so as private label continues to perform strongly in its core categories in these difficult economic times. We will therefore continue our strategy of focusing on where we can add value for our customers".

The promising figures are being taken by analysts as a much positive sign. It is being estimated that McBride might be one the first firms to race ahead when Europe will say goodbye to recession, which can be anytime soon.