Metcash Limited
(ASX:MTS) has cut its full year earnings guidance as a result of costs associated with its strategic review and implementing changes.
The grocery wholesaler now expects annual earnings per share to drop between 13 per cent to 15 per cent in its current financial year.
Metcash has also flagged lowering the value of some of its assets by between $30 million and $35 million before tax.
These assets include retail development assets, stores held for resale and other retail and property investments.
The guidance update comes ahead of a strategy update which is expected today.
Metcash increased its interim net profit by 21 per cent to $99.6 million in the six months to 31 October, 2013.
