Metcash FY profit slides

Wholesale distribution company will look to bolster fresh food and grocery offering in fiscal 2015.

Metcash (MTS) will look to bolster its fresh food and grocery offering in a bid to combat supermarket giants Woolworths and Coles, after posting a significant fall in full-year net profit.

In the year to April 30, the wholesale distribution company posted a net profit of $169.2 million, a 17.9% decline on $206m in full-year 2013.

Revenue was $13.39 billion, a 3.2% lift on the $12.98bn recorded in the previous year.

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