Business
Why the McPherson’s (ASX:MCP) share price was crushed today
The McPherson’s Ltd (ASX: MCP) share price continued its disappointing run and sank lower again on Wednesday.
The beauty products company’s shares dropped 11% to $1.21.
This means the McPherson’s share price is now down 60% over the last 12 months and trading within touching distance of a two-year low.
Why did the McPherson’s share price crash lower today?
Investors were selling McPherson’s shares today following the release of a disappointing half year result.
Management blamed the same weakness in the daigou channel that has been impacting A2 Milk Company Ltd (ASX: A2M) and Blackmores Limited (ASX: BKL) for its poor performance.
For the six months ended 31 December, the company reported a 4.1% decline in sales revenue…
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