McPherson's Limited (ASX:MCP) has downgraded its full year guidance to 30 June this year due to low consumer confidence and subdued market conditions.
The homewares and haircare products distributor provided guidance for profit before tax of $29.4 million and has now downgraded to about $26 million for its full financial year.
McPherson’s says it’s confident the company will generate earnings growth through current initiatives being pursued which include acquisitions.
McPherson’s generated a net profit of $10.1 million in the first half of its 2012 financial year.
