Metcash stands its ground as share price falls

Original article by Eli Greenblat
The Australian – Page: 19 : 25-Jun-19

Grocery wholesaler Metcash has posted a net profit of $192.8m for the year to 30 April, following a loss of $148.2m previously. The group’s underlying profit was three per cent lower at $210.3m, but revenue increased by 1.8 per cent to $12.7bn. CEO Jeff Adams says Metcash is confident that its restructuring program, which includes further cost reductions, will pay off. Metcash shares fell 9.8 per cent on 24 June, closing at $2.84.

CORPORATES
METCASH LIMITED – ASX MTS, COLES GROUP LIMITED – ASX COL, WOOLWORTHS GROUP LIMITED – ASX WOW

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