Metcash optimistic despite competition
Metcash, which also operates wholesale businesses in hardware and car parts, is feeling the pinch of the supermarket wars as well as sustained price inflation across the grocery aisle. On Monday, it revealed its underlying half-year profit fell 1.9 per cent to $119 million. Earnings before interest and tax slumped 6.3 per cent to $193.3 million. Metcash's interim dividend was 9.5¢ a share.
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Metcash is optimistic about growing the independent retailer sector despite facing intensified competition from major players like Woolworths and Coles. They believe in the potential of independent retailers to thrive even in a competitive market.
Metcash is experiencing challenges from the supermarket wars, particularly with Woolworths and Coles, as well as dealing with sustained price inflation across the grocery aisle.
Metcash reported a 1.9% decline in its underlying half-year profit, which fell to $119 million. Additionally, their earnings before interest and tax decreased by 6.3% to $193.3 million.
Metcash's flagship food business is currently losing market share to major competitors like Woolworths and Coles, which is a significant challenge for the company.
Besides groceries, Metcash operates wholesale businesses in hardware and car parts, diversifying its operations beyond the food sector.
Metcash's interim dividend was reported at 9.5 cents per share, reflecting the company's current financial strategy amidst market challenges.
Despite losing market share, Metcash remains optimistic about competing with Woolworths and Coles, focusing on the growth potential of independent retailers.
Sustained price inflation across the grocery aisle is one of the challenges Metcash is facing, impacting their overall financial performance.
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