Metcash revenue up 7.6%

Company News

by Kathy Skantzos

Metcash (ASX:MTS) recorded a 7.6 per cent increase in group sales revenue to $7.06 billion in the first half of 2018 to October 2017, compared to $6.56 billion in the first half of 2017.

The figure includes one month of sales from Home Timber & Hardware, which was acquired in October 2016.

Profit after tax was up 24 per cent to $93 million compared to $75 million in the first half of 2017.

Group EBIT is up 19 per cent to $152 million compared to $128 million in the first half of 2017, which included earnings from Home Timber & Hardware.

The company said growth was seen in its hardware business, liquor and food, despite challenging market conditions.

The company’s interim dividend is 6 cents per share fully franked.

Shares in Metcash (ASX:MTS) closed flat at $2.75.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.