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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

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