McPhersonâs hit by lack of Chinese students and tourists
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Pre-tax profit ($m) 1.6 v 8.5
Net profit ($m) 1.2 v 5.7
Interim dividend (¢) 3.5 v 4.0, payable March 18
McPhersonâs, which sells the Manicare, Lady Jayne, Dr. LeWinnâs, Aâkin and Multix brands said export demand from China remains difficult to forecast, and its now expecting second half and full year earnings per share will be materially below a year ago.
Despite the shaky outlook the beauty retailer said Wednesday its strong cash conversion and low debt will support its dividend payout ratio in the medium term.
Managing director Grant Peck said consumer behaviour will be difficult to gauge in the short term following an unexpected slowdown in the market in the last quarter of last year.
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Karen Carpenter and her daughter Heather Smith from Lady Jayne tea room in Toton (Image: Nottingham Post/Marie Wilson)
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