McPhersons posts profits in 2009 despite global financial meltdown

McPherson’s again posted impressive net profits of $19.5 million in the 2008-09 financial year.  McPherson’s management have stated that the pre-tax profit of $29.6 million profit “compares with the previous year’s $38.2 million.” The outgoing Managing Director David Allman said that a “positive trend in trading has continued” over the past few months heading into 2010.

In a year where many companies have recorded substantial losses McPherson’s whilst slightly down on profits continues to go from strength to strength.  It makes you wonder why then  McPherson’s continues to drive down and strip away working conditions from its sales staff.  To rub further insult to injury for the sales workers, the new incoming CEO will be awarded 1.5 million share options commencing in 2010.

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