Mcpherson's Limited · ASX:MCP
Mcpherson's — H1 2004 Earnings Presentation
7 slides from Mcpherson's's earnings presentation, Feb 24, 2004
Slide 1: Interim Result 2003/04
INTERIM RESULT — 2003 / 04 David Allman Managing Director
Slide 2: Profit & Loss (Half Year)
PROFIT & LOSS (HALF YEAR) AS Millions December 03 December 02 Consumer Products EBITA 18:1 70 Printing EBITA 6.0 TA Corporate, etc. (1.9) G5) Group EBITA 22.2 12.6 Net Interest (4.2) (2.2) NPBT 18.0 10.4 + 73% NPAT 13. Z9 + 68% EPS (cents) 24.1 19.7 +.22% DPS -(cents) 9.0 70 +29% Note: Earnings figu
Slide 3: Balance Sheet at 31 December 03
BALANCE SHEET AT 31°* DECEMBER 03 $ A Millions Dec 03. Dec 02 Fixed Assets (including intangibles) 136.2 57.4 Net Working Capital 71.9 64.3 Other (19.6) CZ.7} Funds Empioyed 188.5 114.0 Shareholders: Funds 99:8 61.3 Net Debt 88.7 2.2 Funds Employed — Consumer Products 153.6 78.9 Funds Employed — Pri
Slide 4: Ongoing Financial Objectives
ONGOING FINANCIAL OBJECTIVES 1, 20% per annum net return-(before amortisation).on shareholders: funds, 2. Pre-tax cash flow > pre-tax (and amortisation) profit: 3. EPS growth through acquisitions which produce rationalisation benefits and improve competitive position:
Slide 5: Returns / Cash Flow / Growth
RETURNS / CASH FLOW / GROWTH 1. RETURNS 20%: return: achieved: for each-of past four-years: (2000:.and:2001-assisted.by. tax losses). 2. CASH FLOW OBJECTIVE Achieved each of last five years — average 28% greater. Half- year to: December 2003 pre-tax: cash flow of $19.2 million 3. GROWTH THROUGH ACQU
Slide 6: Business Strategy
BUSINESS STRATEGY Consumer Products Expansion into related categories Brands Focus-on-margins Key capabilities..-...Design / Sourcing ~ Logistics =. Marketing (including customer relationships) @ © 6 € Printing Specific niche markets Core customer relationships (75% of revenue) Equip to focus on spe
Slide 7: Financial Objectives 2003/04
FINANCIAL OBJECTIVES 2003/04 « Consumer product synergies in place for 2004/05 ($6 million) * Debt reduction *... Ongoing return and cash flow objectives
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