Metcash Limited
(ASX:MTS) says underlying net profit is 6.1 per cent lower to $86.9 million in the six months to October.
The grocer has been reducing grocery prices and updating stores in a bid to catch up to Woolworths and Coles.
Whilst supermarket sales were mostly flat there were gains in the liquor and hardware business.
Metcash is withholding dividends for the next 18 months to preserve cash.
