Metcash (ASX:MTS) bounces back

Company News

by Anna Napoli

Metcash (ASX:MTS) says its group earnings have increased by 30.4 per cent to $203 million for the first half of the 2021 financial year.

Group revenue increased 12.2 per cent to $7.1 billion.

Statutory profit bounced back from a loss of $151.6 million for the same time last year to $125.1 million.

Sales growth was driven by the company’s shop local campaign, higher demand for liquor and increased demand for hardware amid a return to DIY by customers.

The company says sales momentum has continued into 2H21 with strong growth in first five week.

The interim dividend is up 2 cents from 6 cents in the first half of last year to 8 cents.

Shares in Metcash (ASX:MTS) are trading 8.7 per cent higher at $3.50