Half Year 2026 McPherson's Ltd Earnings Call Transcript
Key Points
- McPherson's Ltd (ASX:MCP) reported a 10.6% increase in underlying EBITDA to $2.2 million, indicating positive financial benefits from their new operating model.
- The company finished the half with a strong net cash position of $12.6 million, reflecting robust operational cash generation.
- Core brand revenue was broadly stable, with a 2.2% growth on a like-for-like basis, excluding new wholesaler rebates.
- The company successfully onboarded all pharmacy wholesalers and increased independent pharmacy channel distribution by 6%.
- McPherson's Ltd (ASX:MCP) launched new e-commerce platforms for Dr. LeWinn’s and Fusion Health, showing early positive signals in direct-to-consumer capability.
- Total revenue was down 6.7% compared to the prior corresponding period, at $66 million.
- Dr. LeWinn's revenue decreased by 21% due to out-of-stock positions and ongoing softness in the international segment, particularly in China.
- Fusion Health revenues were down 11.8%, reflecting underperformance in the health food store and independent pharmacy channels.
- The company faced transitional issues with stock supply throughout their supply chain, impacting both wholesalers and customers.
- The board decided not to declare an interim dividend due to retained losses and the loss after tax position for the first half of '26.
Will be a presentation be a presentation followed by a question-and-answer session. (Operator Instructions)
I would now like to hand the conference over to Mr. Brett Charlton, Chief Executive Officer. Please go ahead.
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Good morning, everyone. Thank you for joining us for our first half '26 results presentation. I'm Brett Charlton, CEO and managing director of McPherson's, and with me today is Mark Sherwin, our CFO.
As always, I'll begin by referring you to the disclaimer on slide 2. I ask that you take the time to read it. Today I'll cover our first half '26 highlights and an update on our business, and Mark will then step through the financial results in detail and then, discuss outlook and our priorities for the second half before we open for questions at the end.
So, the first half '26 highlights have been a period of stabilization while we have embedded our new operating model, and this is our first result under
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