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Tuesday 29 August 2017 by FIIG Research

Company updates

McPherson’s: solid cash generation and debt reduction

THIS CONTENT IS SUITABLE FOR WHOLESALE INVESTORS ONLY

McPherson’s (MCP) has reset to a lower AUD environment, and improved profitability by refocusing towards higher margin businesses. Free cashflow generation has reduced net debt by 27% year on year. While top line results are weaker than expectations, credit metrics are broadly in line given the debt reduction.

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