Metcash: Result 2013

Liquor and hardware acquisitions have covered up another worrying performance from this wholesaler's core grocery business.

If you‘ve ever been to China you probably noticed their newspaper editors have a charming way of only seeing the positive in life. If you haven’t, read the presentation alongside Metcash's latest full-year result and you will see that same charm shining through, with management happy to gloss over some major problems, while emphasising the positive.

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