mcpherson’s consumer products parent company mcpherson’s limited has posted an after-tax profit of $16.9 million for the six months to 31 december 2010, which represents a 20 per cent increase over the first half net profit in financial year 2010 ($14.1 million).
mcpherson’s consumer products, with key brands including wiltshire and stanley rogers (homewares), manicare, lady jayne and swisspers (personal care), multix (household consumables) and home living (impulse merchandising), had an increase in sales revenue of 0.5 per cent despite the comparatively difficult environment experienced by the company’s retail customers.
there were significant revenue increases from key branded products – in particular multix and swisspers – but these were largely offset by a decline in impulse merchandising revenue due to a reduction in available selling space for this category in some retailers.
“second half trading to date has been consistent with expectations, with the consumer products division’s earnings continuing to benefit from the strong australian dollar and business efficiency initiatives,” said managing director paul maguire.
“the company remains on target to achieve an increase of around 10 per cent in earnings per share to approximately 40 cents for the full year to 30 june 2011, from the 36.4 cents reported last year.“this assumes our performance is not unduly influenced by the uncertainties of the retail environment, competitive pressures or the net effect of movements in exchange rates and other input costs,” he said.
brand development, together with new and improved products, continue to be the major focus of mcpherson’s consumer products to ensure the company remains a leader in its field, providing continuous innovation to the company’s retail partners.
“the company is now actively searching for consumer products acquisition opportunities in existing channels and considering expansion into other sales channels such as hardware,” said chairman simon rowell.
“the strong balance sheet will assist in maximising the ability to take advantage of attractive acquisitions.”
