Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • Exclusive Masterclass access. Part of Retail Week 2021

Metcash reports 3 per cent drop in underlying profit

Australian grocery wholesaler Metcash has reported a 3.0 per cent drop in underlying profit for the full-year to $210.3 million, as food earnings took a hit. Group revenue climbed 1.8 per cent to $12.66 billion but earnings fell 1.4 per cent to $330 million as growth in liquor and hardware struggled to offset a 3.0 per cent drop in grocery earnings. Total liquor sales increased 5.6 per cent to $3.67 billion and while total food sales increased by 0.3 per cent to $8.79 billion, a decline in