Still remains in dark Outlook: • Export demand remains difficult...

Still remains in dark

Outlook:

• Export demand remains difficult to forecast given global market uncertainty.

• Expected 2H21 and FY21 EPS will be materially below 2H20 and FY20

The adverse impact of the current COVID-19 related downturn in demand from Chinese consumers on Aware’s customer base, including McPherson’s, has resulted in a deterioration in Aware’s financial outlook in the medium term. McPherson’s supports the planned recapitalisation of the Aware Group to address its liquidity concerns, however it has impaired its 10.7% investment in Aware by $4.0 million to a carrying value of $2.0 million on 21 December 2020.

There remains an elevated level of uncertainty pertaining to McPherson’s short-term trading outlook, largely due to the difficulty of forecasting demand in China. 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. It is therefore not possible to provide guidance at this stage, but it remains likely that underlying profit before tax and earnings per share for 2H21 and FY21 will be materially below 2H20 and FY20.

I wanted to exit my remaining holding in jump last month, was just waiting for $1.50 but here comes down it again. If I can get $1.45 I am out of this