Metcash Limited
(ASX:MTS) has announced its net profit attributable to members dived 20.6 per cent, to $171.9 million for the full year to 30 April 2017.
The produce, grocery and beverage marketer and distributor’s result follow the acquisition and integration of Home and Timber Hardware (HTH), which cost the group $22.9 million (post tax).
Meantime, the group’s sales revenue firmed 5.4 per cent higher to $14.12 billion, bolstered by sales from the Home and Timber Hardware (HTH) business.
Group EBIT increased 7.7 per cent to $296.7 million on the back of continued earnings growth in both the company’s liquor and hardware pillars.
The company also declared a fully franked FY17 final dividend of 4.5 cents per share, sourced from profit reserves, while it also announced its dividend reinvestment plan would be suspended until further notice.
Metcash also announced its Group CEO, Ian Morrice will retire from the board next year, after serving for five years. He will remain in his role until his successor is appointed.
Shares in Metcash Limited
(ASX:MTS) are trading 6.36 per cent higher to $2.32.
