Metcash Limited
(ASX:MTS) has released its full year results for the year ended 30 April 2016.
The company recorded an Underlying Profit after Tax of $178.3 million up from $173.6 million in FY15.
Group sales revenue for the year grew by 1.3 percent to $13.5 billion, with liquor sales in its IBA network a standout performer, increasing 13 percent on the prior year.
Metcash has also pointed to a stronger balance sheet in its results, with net debt reduced from nearly $400 million to $275.5 million.
The group has indicated it intends to recommence half yearly dividend payments with effect from the final FY17 dividend, subject to capital requirements.
