McPherson’s (ASX:MCP) disclosed its financial results for the first half of fiscal year 2026, reporting a period of transition and stabilisation under a newly implemented operating model.
For the six months ended Dec. 31, 2025, the company recorded revenue from continuing operations of $66 million, representing a 6.7% decline compared to the previous year.
Despite this revenue dip, underlying EBITDA rose by 10.6% to $2.2 million, a boost the company attributes to reduced fixed costs and leaner operations.
The statutory result was a net loss after tax of $2.3 million, widened by $2.7 million in pre-tax material items.
This included a $1.9 million non-cash impairment of the Fusion Health brand and various one-off cash items. The basic loss per share rose to 1.6 cents.
On a brand level, performance was mixed; while Manicare and Swisspers saw strong growth, the Dr LeWinn’s and Fusion Health labels performed below internal aspirations due to transition-related challenges.
CEO Brett Charlton noted that excluding wholesaler rebates, core brand revenue actually grew by 2.2%, indicating underlying resilience in the portfolio.
The company’s balance sheet remains stable with a net cash position of $12.6 million and a healthy operating cash flow of $5.9 million.
While no dividend was declared for the period, the board has authorised an on-market share buyback of up to $2 million.
At the time of reporting, McPherson's share price was $0.20.