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Mcpherson’s limited (asx:mcp) research report

  • September 20, 2016
McPherson’s Limited (ASX:MCP research report

In the middle of a makeover

Microcap consumer products company McPherson’s Limited (ASX:MCP) is a supplier of household and personal care products, with operations in Australia, New Zealand and Asia. McPherson’s is undergoing a transformation in order to focus on the faster growing and more profitable Health and Beauty and Home Appliances segments, and diversify away from the competitive Household Consumables segment and grocery distribution channel. The company owns household names such as A’kin, Dr. LeWinn’s, Lady Jayne, Swisspers, Euromaid and Multix, and has agency agreements with Trilogy and Procter & Gamble Fine Fragrances. 

Following an encouraging financial result in FY16, we expect further earnings growth and strong cash flow generation in FY17 and FY18, as McPherson’s continues to build on the transition that has occurred since 2012.

What is our price target, financial forecasts and recommendation? Find out in our free 23-page initiation report.

To view report please click here
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Declan McLenaghan

Declan provides research coverage on listed Australian Microcap companies. He previously worked as an analyst at Millinium Capital Managers, where he performed fundamental research on companies in the ASX 200. He has also worked for MF Holdings and Atlantic Pacific Securities. Declan holds a Bachelor of Business (Finance) from the University of Technology Sydney (UTS) and has completed all three levels of the CFA Program.


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