Metcash half-year financial results 2024

Metcash (ASX:MTS) announced its financial results for the half year ending October 31, 2024. The company showed strong sales growth in its Food and Liquor segments and maintained market share in its Food and Hardware divisions. Despite challenges, the Liquor segment increased its market share.

Metcash's strategic growth and future outlook

Metcash reported a 6.3% increase in group revenue to $9.6 billion for the half year ending October 31, 2024. The company's diversified strategy led to substantial sales growth in the Food and Liquor segments, driven by the acquisition of Superior Foods. Despite a decline in earnings within the Hardware segment due to a decrease in Trade activity, Metcash maintained market share and implemented cost management strategies. With a new mega distribution center in Victoria and a net debt increase to $725.0 million following strategic acquisitions, Metcash remains confident in its long-term growth potential, particularly in its Hardware businesses. The company declared an interim dividend of 8.5 cents per share, fully franked. Looking forward, Metcash anticipates continued growth in its Food and Liquor pillars and stabilization in the Hardware segment as conditions improve.

Executive insights on Metcash's performance

The company's diversified portfolio strategy continues to thrive despite challenging external conditions, particularly within the Hardware segment. We achieved a strong sales growth in the Food and Liquor segments, while maintaining market share in Food and Hardware and increasing in Liquor.