1H26 Financial Results
| Stock | Mcpherson's Ltd (MCP.ASX) |
|---|---|
| Release Time | 25 Feb 2026, 9:18 a.m. |
| Price Sensitive | Yes |
McPherson's Ltd reports 1H26 financial results
- Revenue from Continuing Operations down 6.7% to $66.0 million
- Underlying EBITDA from Continuing Operations up 10.6% to $2.2 million
- Statutory net loss after tax of $2.3 million
McPherson's Limited (ASX: MCP) has announced its results for the six months to 31 December 2025 (1H26). During the period, the Company focused on embedding its new operating model, a key step in delivering on the Company's strategy and unlocking planned financial and strategic benefits. Revenue from Continuing Operations was $66.0 million, down 6.7% compared to $70.7 million in 1H25. Of this decline, $4.1 million was attributable to McPherson's supporting portfolio brands and reflects a redirection of A&P investment to core brands, coupled with supply challenges on a number of these brands. Sales of the Company's core brands comprised 93.9% of McPherson's sales (1H25: 88.4%) and were broadly in line with 1H25 at $61.9 million. On a like-for-like basis, excluding the impact of new wholesaler rebates, core brand revenue growth was 2.2%. Underlying EBITDA of $2.2 million for 1H26 was up 10.6% despite lower sales. The Company recognised $2.7 million in pre-tax material items during the period, including a $1.9 million non-cash impairment of the Fusion Health brand. Net cash was $12.6 million as at 31 December 2025, up from $8.8 million at 30 June 2025. Given the balance of retained losses at 31 December 2025, and informed by the loss after tax for 1H26, the Board has determined not to pay an interim dividend. The Board is announcing an on-market share buyback of up to $2.0 million over the next 12 months.
Subject to current trading conditions and the continued stabilisation of the operating model, McPherson's anticipates moderate year-on-year growth in underlying FY26 EBITDA, majority weighted to 2H26.
As the new operating model continues to stabilise, the Company's focus in 2H26 is driving growth across its core brands and capitalising on the improved pharmacy distribution, service delivery capabilities, and other strategic benefits that the new operating model provides.