Metcash Logs Over 6% Rise in Year-to-Date Sales, Issues Fiscal H1 Underlying Profit Guidance; Shares Nearly Hit Four-Year Low

MT Newswires Live10-25

Metcash's (ASX:MTS) group year-to-date sales grew 6.3% compared with the year-ago period, with growth across all pillars, according to a Friday filing with the Australian bourse.

Sales for the period ended Oct. 20 increased in the food, liquor, and hardware pillars, partly buoyed by recent acquisitions, the filing said. Metcash also reiterated a "very challenging" external market for the Independent Hardware Group.

The wholesale distribution and marketing company expects group underlying net profit after tax of AU$132 million to AU$135 million for the first half ending Oct. 31.

Metcash's shares were down nearly 3% in recent Friday trade and earlier hit their lowest since November 2020.

Price (AUD): $3.21, Change: $-0.10, Percent Change: -2.88%

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