Australia's Mcpherson's sees worst day in over 2 weeks on bleak profit view

McPherson's

17/01/2023 02:18

** Shares of Mcpherson's Ltd  MCP.AX  fall as much as 2.0%
to A$0.72, set for worst day since Dec 30, 2022, if losses hold 
    ** Health and beauty products maker sees 1H23 underlying
profit before tax at about A$5 mln ($3.48 mln) 
    ** Says co had recorded underlying profit before tax of
A$6.7 mln for first half 2022
    ** Adds, decline in 1H23 profit before tax was largely due
to a reduction in sales and margin of the Multix brand in the
grocery channel, among others 
    ** Co pegs 1H23 sales revenue at about A$112 mln
    ** Shares hit lowest since Jan 9
    ** As of last close, shares are up 9.7% so far this year 
    ($1 = 1.4358 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))