Queries on Metcash forecasts

 In Australia, Metcash/IGA, NewZealand
When independent grocery wholesaler Metcash announced that it had sold its automotive division (including Autobarn, Autopro and Midas), it announced the sale would generate approximately $210 million for debt reduction and investment into the groceries retail operation.
The company however has revealed a $384 million loss for the 2014 financial year. Previously disclosed write-downs of $638.8 million contributed to the loss and Metcash said it would have posted a $169.2 million profit without the write-downs. However, this is well down on its 2013 earnings of $390.3 million.  Australian Food News – Read more…

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