Metcash lifts profit goal despite interim drop

 In Australia, Metcash/IGA, NewZealand

Grocery wholesaler and Franklins supermarket owner Metcash has had a 14 per cent drop in first-half profit but has increased its financial forecasts for the full year.

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Metcash reported a $94.4 million net profit for the six months to October 31, down from $110 million in the previous corresponding period.

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Revenue in the first half of $6.08 billion was up 1.7 per cent from the previous corresponding period.

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Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 2.2 per cent from the same period last year to of $203.7 million.

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Metcash declared an interim dividend of 11.5 cents, fully franked. Sydney Morning Herald – Read more…
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