• Revenue down 6.7% to $66.0 million
• Underlying EBITDA up 10.6% to $2.2 million
• Manicare and Swisspers brands reported strong growth

McPherson's Limited, a supplier of well-known essential health and beauty products, has released its 1H26 Appendix 4D and Financial Report for the period ended 31 December 2025. The company's revenue declined 6.7% to $66.0 million, primarily due to a $4.1 million decline in sales of portfolio brands as the company redirected investment to its core brands. Sales of the company's five core brands - Manicare, Swisspers, Lady Jayne, Dr. LeWinn's, and Fusion Health - comprised 93.9% of total sales and were broadly in line with the previous period. Manicare and Swisspers reported strong growth of 6.7% and 11.7%, respectively, while Dr. LeWinn's and Fusion Health were impacted by various transition-related issues. Underlying EBITDA increased 10.6% to $2.2 million, driven by improved gross margins and lower operating costs. The company continues to focus on stabilizing its new operating model, driving growth across the core brands, and delivering sustainable shareholder returns. During the period, the company recognized $2.7 million in pre-tax material items, including a $1.9 million non-cash impairment of the Fusion Health brand. Net cash increased to $12.6 million as of 31 December 2025, and the company has received tax refunds totaling $2.0 million subsequent to the balance sheet date, with a further $1.3 million expected in the future.

The company expects to deliver approximately $4.5 to $5.0 million of annualized net EBIT benefits from the new operating model.

The company remains focused on driving growth across its core brands, unlocking further benefits from the new operating model, and delivering sustainable shareholder returns.