Tag Archives: Metcash

Metcash delivers a ‘pleasing financial and strategic outcome’

Metcash has released its financial results for the year ended 30 April 2019. Reported group revenue, which now excludes charge-through sales, increased 1.8 per cent to $12.7 billion (FY18: $12.4 billion). Including charge-through sales, group revenue increased 1.4 per cent to $14.6 billion (FY18: $14.4 billion). “Further good progress on …

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Metcash to continue supplying Drakes in Qld

Metcash has reached an agreement with Drakes Supermarkets to supply its stores in Queensland for another five years. The announcement comes after the expiry of its existing supply agreement on June 2, 2019. According to the Financial Review, the agreement means Metcash is “removing a major threat to its revenue …

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Metcash to invest $270m in store network

A rebranding of the store network and a trial of 10 small format convenience stores are among the initiatives announced by Metcash at its strategy update this week. The wholesaler announced investment plans of $270m over five years across its business. This includes a potential $165m capex in food initiatives. …

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‘Best in class’ – new Metcash distribution centre for SA

This week, Metcash began work on a ‘best in class’ distribution centre in Gepps Cross, Adelaide, to service independent retailers. The company held a ‘turning of the soil’ event (right) to celebrate the start of construction. In a statement, Metcash said the new DC would deliver “operational efficiencies” for its …

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IGA Supplier of the Year Award winners revealed

IGA has announced the winners of its coveted Supplier of the Year (SOTY) Awards. The ceremony took place last night at The Star in Sydney. The company says it judges nominated suppliers and winners on criteria including sales, support and innovation, promotions and field teams. “These suppliers are supportive of …

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Metcash half-year results ‘pleasing amid challenges’

Metcash has reported that group revenue increased by 2.2 per cent to $6.2 billion for the half-year ended October 31 with all pillars delivering improved earnings. Food EBIT was up 2.4 per cent to $93 million. Group CEO Jeff Adams said the first-half results were “pleasing in the face of …

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ECG to buy Metcash’s China export business

E-commerce company ECG has announced it will buy 85 per cent of wholesaler Metcash’s China export business. The companies have entered into a binding Heads of Agreement. This will see ECG will acquire 85 per cent of Metcash Export Services, which includes Metcash Asia, its China-based subsidiary. ‘One-stop offering’ ECG …

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Metcash share price jumps after AGM presentation

Metcash Limited enjoyed a jump in share price of over 10 per cent yesterday after releasing its AGM presentation. In the presentation, management gave a breakdown of the company’s performance in FY 2018. It also gave an update on its performance so far in FY 2019. In his opening address, …

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