Metcash Extends Supply Deal to Drakes Supermarkets in Queensland; Shares Hit Four-Year Low

MT Newswires Live10-28

Metcash (ASX:MTS) extended its supply agreement to all 22 Drakes supermarkets in Queensland by five years to June 2034, according to a Monday filing with the Australian Securities Exchange.

Sales by the company's Food pillar to Drakes supermarkets reached AU$222.5 million in fiscal 2024, the filing said.

In the same filing, the company said it finalized the sale of its 26% joint venture ownership interest in Dramet to Drakes Supermarkets for about AU$18 million.

The wholesale distribution and marketing company's shares fell nearly 3% in morning trade on Monday and earlier hit their lowest since November 2020.

Price (AUD): $3.11, Change: $-0.09, Percent Change: -2.66%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2478190971?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-28 09:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2478190971","market":"fut","top_or_hot":-1,"title":"Metcash Extends Supply Deal to Drakes Supermarkets in Queensland; Shares Hit Four-Year Low","media":"MT Newswires Live","content":"<html><body><p> Metcash (ASX:MTS) extended its supply agreement to all 22 Drakes supermarkets in Queensland by five years to June 2034, according to a Monday filing with the Australian Securities Exchange.</p><p>Sales by the company's Food pillar to Drakes supermarkets reached AU$222.5 million in fiscal 2024, the filing said.</p><p>In the same filing, the company said it finalized the sale of its 26% joint venture ownership interest in Dramet to Drakes Supermarkets for about AU$18 million.</p><p>The wholesale distribution and marketing company's shares fell nearly 3% in morning trade on Monday and earlier hit their lowest since November 2020.</p><p>Price (AUD): $3.11, Change: $-0.09, Percent Change: -2.66%</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Metcash Extends Supply Deal to Drakes Supermarkets in Queensland; Shares Hit Four-Year Low</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMetcash Extends Supply Deal to Drakes Supermarkets in Queensland; Shares Hit Four-Year Low\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-28 09:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Metcash (ASX:MTS) extended its supply agreement to all 22 Drakes supermarkets in Queensland by five years to June 2034, according to a Monday filing with the Australian Securities Exchange.Sales by ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AUD","symbol_name":"Audacy Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2478190971","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478190971","pubTimestamp":1730078067,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Metcash  extended its supply agreement to all 22 Drakes supermarkets in Queensland by five years to June 2034, according to a Monday filing with the Australian Securities Exchange.Sales by the company's Food pillar to Drakes supermarkets reached AU$222.5 million in fiscal 2024, the filing said.In the same filing, the company said it finalized the sale of its 26% joint venture ownership interest in Dramet to Drakes Supermarkets for about AU$18 million.The wholesale distribution and marketing company's shares fell nearly 3% in morning trade on Monday and earlier hit their lowest since November 2020.Price : $3.11, Change: $-0.09, Percent Change: -2.66%","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AUD":"Audacy Inc.","MTS.AU":"METCASH LTD","BK7028":"食品分销商","BK4125":"广播"},"translate_title":"Metcash将供应协议扩展到昆士兰州的Drakes超市；股价创四年新低","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AUD":1,"MTS.AU":0.9},"content_text":"Metcash (ASX:MTS) extended its supply agreement to all 22 Drakes supermarkets in Queensland by five years to June 2034, according to a Monday filing with the Australian Securities Exchange.Sales by the company's Food pillar to Drakes supermarkets reached AU$222.5 million in fiscal 2024, the filing said.In the same filing, the company said it finalized the sale of its 26% joint venture ownership interest in Dramet to Drakes Supermarkets for about AU$18 million.The wholesale distribution and marketing company's shares fell nearly 3% in morning trade on Monday and earlier hit their lowest since November 2020.Price (AUD): $3.11, Change: $-0.09, Percent Change: -2.66%","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2478190971"}