Metcash Limited
(ASX:MTS) has delivered a significant increase in full-year profit and revenue.
For the full year to April 30, Metcash's net profit was $206 million, a 129 per cent lift on the $90 million posted in the previous corresponding period.
During the year, Metcash raised $368 million through a fully underwritten institutional placement and a placement of 16.5 million shares to existing shareholders.
Underlying profit after tax increased 6.9 per cent to $280.7 million, from $262.5 million.
Revenue in the period increased 3.8 per cent to just over $13 billion, from $12.6 billion in the previous corresponding period.
Chief Executive Andrew Reitzer says he’s confident the group will continue to weather challenging conditions.
