Metcash Limited FY24 Results Announcement

Metcash Limited (ASX: $MTS) has released its financial results for the year ended 30 April 2024. The company reported a 0.7% increase in group revenue to $15.9bn and a 0.7% increase to $18.2bn including charge-through. Group underlying EBIT decreased 0.9% to $496.3m, while underlying profit after tax decreased 8.2% to $282.3m. Metcash also highlighted its strong cash, cost, and operational performance underpinned by disciplined execution.

Executive Commentary on FY24 Results

Group CEO, Doug Jones, expressed satisfaction with the strong FY24 results, attributing them to the company's strategy and disciplined execution of key initiatives. He highlighted the strong performance of the Food, Liquor, and Hardware pillars, emphasizing their resilience in the current market conditions. Jones also noted the successful major acquisitions in the Food and Hardware pillars, which are expected to further strengthen the company's position and open up new growth opportunities.

Summary of FY24 Results and Outlook

Metcash's FY24 results demonstrated resilience and strategic positioning, with strong performance in the Food, Liquor, and Hardware pillars. The company reported a 0.7% increase in group revenue and highlighted its disciplined execution in cash, cost, and operational performance. The successful major acquisitions in the Food and Hardware pillars are expected to contribute to future growth opportunities. Looking ahead, Metcash remains well-positioned with diverse business capabilities for future growth and strong returns through the cycle.