Metcash half-year financial review

Metcash (ASX:MTS) reported an 8.1% increase in sales revenue for the half-year ending 31 October 2024, reaching $8.47 billion. The growth was supported by its Food, Liquor, and Hardware segments. Despite a rise in sales, underlying profit before tax fell by 6.5% to $188.4 million. The company declared an interim dividend of 8.5 cents per share.

Key takeaways from Metcash's half-year report

Metcash's half-year results show an 8.1% increase in sales revenue, reaching $8.47 billion. The Food segment benefited from the acquisition of Superior Foods, contributing significantly to earnings. Liquor experienced a slight decline in EBIT, and Hardware faced a 15.1% earnings drop. The company declared an 8.5 cents per share interim dividend. Net tangible assets per share decreased, while total assets rose. Looking ahead, Metcash is focused on accelerating growth and enhancing technology infrastructure through Project Horizon.

Executive insights on Metcash performance

Metcash delivered a solid performance in the first half of the year with strong sales growth across our business segments. The acquisition of Superior Foods has significantly contributed to our Food segment, enhancing our scale and diversity. While we faced challenges in the Hardware segment, we remain committed to driving growth and increasing shareholder value.