Metcash

Metcash has announced a swag of remedies to ignite growth following its weak full year results. Revenue increased 1.9% to $12.6bn, and underlying net profit increased 2.5% to $263m. Reported net profit actually fell 63% to $90m due to the write-offs discussed on 3 Apr 12 (Long Term Buy – $4.10) and the cost of acquiring Franklins in New South Wales. Earnings per share also increased slightly from 33.4 to 34.1 cents. In a sign of confidence the company slightly increased the final dividend to 16.5 cents (ex date unknown), bringing the full year total to 28 cents and...

Metcash has announced a swag of remedies to ignite growth following its weak full year results. Revenue increased 1.9% to $12.6bn, and underlying net profit increased 2.5% to $263m. Reported net profit actually fell 63% to $90m due to the write-offs discussed on 3 Apr 12 (Long Term Buy – $4.10) and the cost of acquiring Franklins in New South Wales. Earnings per share also increased slightly from 33.4 to 34.1 cents. In a sign of confidence the company slightly increased the final dividend to 16.5 cents (ex date unknown), bringing the full year total to 28 cents and putting Metcash on a fully franked dividend yield of 7.5%.

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