Metcash warns on 2014 profits

When we reviewed Metcash’s full-year result, on 25 Jun 13 (Avoid – $3.74), we wrote that ‘underlying earnings per share will struggle to maintain their current level at 32.6 cents’. So we weren’t surprised when new chief executive Ian Morrice said at last week’s annual general meeting that he expected an underlying earnings contraction ‘in the high single digits in the current year’. The AGM presentation referred to low consumer confidence, due to instability from the election, the exchange rate and house prices. The food and grocery sector, in particular, is being driven by a ‘cost-conscious consumer’ and ‘high...

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles