McPherson's forecasts revenue up to $120M

• McPherson's announced a decline in estimated full-year revenue to between $115 million and $120 million.
• The company expects underlying EBITDA to fall to a range of $4 million to $4.5 million.
• Operating model transition challenges and customer inventory reductions drove the lower-than-expected sales performance.

McPherson's (ASX:MCP) forecasts lower full-year revenue of $115 million to $120 million following operating model transition challenges.

The anticipated revenue range compares to the $139 million generated by the company during the previous fiscal year.

The company expects full-year underlying EBITDA to decrease to between $4 million and $4.5 million.

Preliminary non-cash intangible asset impairments are also estimated to range from $15 million to $20 million.

Following the announcement, the McPherson's share price was unchanged at $0.16.

Customers adjusted stock levels and tightened ranging in response to broader macro-economic conditions and channel competitive dynamics.

The business acquired 4,995,130 shares for a consideration of $0.8 million as part of an on-market buy-back.