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Metcash Provides 2018 Annual General Meeting and Group Outlook

29 Aug 2018  |  14:28:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: MTS 2018 Annual General Meeting and Group Outlook

Metcash provided an overview of FY18 financial performance and capital management initiatives in its AGM report. The Company recorded sales revenue of $14,463.7M up by 2.4% as compared to pcp and profit after tax up by 10.7% to $215.6m. This represents an 8.9% increase in underlying EPS to 22.1c. The Company advised that integration of HTH is largely complete, with Hardware team having gained the support of both the HTH and Mitre 10 independent retailers, while also delivering synergies well ahead of the target set at the time of acquisition. The Company's five year program focused on growth initiatives, accelerating existing transformation initiatives, improving infrastructure. The Board has also maintained its dividend payout ratio of 60% of underlying earnings.

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