Metcash Reports Robust Financial Growth, Hits $17.3 Billion Group Sales Revenue
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Metcash, a leading wholesale distribution and marketing company, has recently announced a robust financial performance for the current fiscal year. The company’s group sales revenue reached $17.3 billion, marking a 7.2 per cent growth compared to last year’s figure of $15.9 billion.
Financial Performance Details
The company’s underlying group EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) witnessed a considerable rise, going from $688 million to $737.8 million. Further, there was also a 10.1 per cent increase in its reported profit after tax as the figures moved from $257.2 million to $283.3 million.
In terms of sector-wise performance, Metcash’s food division reported sales revenue of $8.8 billion, excluding tobacco sales. This substantial figure, which is a 20.8 per cent increase year-on-year, has been largely attributed to the growth of supermarkets and convenience stores, along with Metcash’s partnership with Superior Foods beginning this June.
Sector-wise Breakdown
Metcash’s liquor division also exhibited growth, with the revenue rising by 3.3 per cent, moving from $5.1 billion to $5.3 billion. This growth has been fuelled by the successful performance of all IBA brands under Metcash, including Cellarbrations, The Bottle-O, IGA Liquor, and Porters. However, this sector did see a minor setback as its liquor EBITDA decreased from $125.7 million to $123.5 million, marking a 1.8 per cent drop.
Lastly, Metcash’s hardware division reported a revenue of $3.6 billion, indicating a 2.4 per cent increase. This growth can be attributed to Metcash’s acquisition of Total Tools.
Questions & Answers
What was the total group sales revenue reported by Metcash for the current fiscal year?
The company reported a total group sales revenue of $17.3 billion.
Which division of Metcash recorded the highest increase in sales revenue?
Metcash’s food division recorded the highest increase in sales revenue, marking a 20.8 per cent growth year-on-year.
What factors contributed to the growth of Metcash’s hardware division?
The growth in the hardware division is largely due to the company’s acquisition of Total Tools.