Metcash announces $150m statutory loss

Company News

by Anna Napoli

Wholesaler, Metcash (ASX:MTS) has announced a statutory loss after tax of $150 million for the 2018 full year.

This compares with a statutory profit after tax of $172 million last year.

The company says the loss is due to the impairment of goodwill and other net assets to the value of $346 million.

Meantime, the company’s group earnings increased by 9.2 per cent to $333 million compared with $305 million last year.

Metcash has also announced a $125 million Off-Market Buy-Back.

Shares in Metcash (ASX:MTS) are trading up 3.76 per cent to $2.90.

 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.