|Bid||3.090 x 15449400|
|Ask||3.100 x 12586400|
|Day's range||3.080 - 3.130|
|52-week range||1.970 - 3.240|
|PE ratio (TTM)||15.95|
|Earnings date||27 Nov. 2017 - 1 Dec. 2017|
|Forward dividend & yield||0.00 (0.00%)|
|1y target est||2.81|
Metcash shares have hit their highest level in more than three and a half years after the wholesaler managed a 24 per cent lift in first-half profit on the back of boosted earnings across its food, liquor and hardware divisions. Despite this, Metcash's food division, which also supplies convenience stores, had a 5.8 per cent lift in pre-tax earnings, compared to an 8.1 per cent fall in earnings for the same period last year. Metcash said positive earnings from the convenience business was behind the result, while supermarket earnings were steady due to cost cuts and outsourcing of administration.
Grocery wholesaler Metcash has lifted first-half profit 24 per cent to $92.9 million despite a drop in sales across its supermarkets business. The IGA and Foodlands supplier on Monday said food sales dropped 1.4 per cent from the prior corresponding period to $4.36 billion due to fierce competition from Woolworths and Coles, plus the aggressive expansion of Aldi in SA and WA. Sales revenue rose to $7.1 billion largely due to a full contribution from the Home Timber & Hardware chain it acquired from Woolworths in October, 2016.
Grocery wholesaler Metcash's liquor business and Home Timber & Hardware chain have underpinned its 24 per cent lift in half-year profit. While its supermakets' business, as the supplier of IGA and Foodlands stores, continued to come under pressure amid Woolworths and Coles' price cuts and the aggressive expansion of Aldi into South Australia and Western Australia. Net profit grew to $92.9 million during the six months to October 31, up from $74.9 million a year earlier.
Grocery wholesaler Metcash has boosted its half-year profit 24 per cent on the back of a lift in revenue driven by sales from the Home Timber & Hardware business which it acquired last October. Net profit for the half-year to October 31 grew to $92.9 million, from $74.9 million a year earlier, while sales revenue rose 7.6 per cent to $7.1 billion, from $6.6 billion in the prior year when it received only one month of sales from Home Timber & Hardware. Metcash declared a fully franked interim dividend of six cents per share, compared to no dividend in the 2017 financial year.
Metcash Limited (ASX:MTS) is likely to be crowned the best performing grocery stock for 2017 but there could be more upside for its share price next week.
German discounter Aldi is taking a bigger share of the $100 billion Australian supermarket sector as IGA and Foodland fall further behind, new figures show. Industry market researcher IBISWorld has analysed the supermarkets' latest revenue figures and has found IGA and Foodland supplier Metcash has lost more ground as Aldi continues to successfully expand into WA and SA. IBISWorld's latest report on the supermarket industry, released on Wednesday, says Metcash has a 7.5 per cent market share, while Aldi now has 8.6 per cent.