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.