Business
Why the McPherson’s (ASX:MCP) share price could charge higher on Tuesday
The McPherson’s Ltd (ASX: MCP) share price will be on watch on Tuesday following the release of a trading update after the market close.
What did McPherson’s announce?
This afternoon McPherson’s confirmed that sales from its core brands in the Australian market continue to exceed last year’s figures.
According to the release, year to date, the company’s owned brands, excluding the Dr. LeWinn’s brand, have recorded sales growth of 7%.
This has been driven by double digit sales growth from the Manicare, Lady Jayne, and A’kin brands. Furthermore, market share growth has been recorded from 4 out of 6 of its owned brands.
The Dr. LeWinn’s brand continues to weigh on the company’s performance, though. Like A2 Milk…
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