Grocery wholesaler Metcash has posted a 6% rise in annual net profit to Aus$241.4m (£156.7m) for the year ended April 30. Net sales grew 7.4% to Aus$12.5bn (£8.1bn)
Net sales grew 7.4% to Aus$12.5bn (£8.1bn), however, the retailer said that it expects challenging conditions for the rest of the calendar year.
Metcash chief executive Andrew Reitzer described the result as “creditable” given the challenging trading conditions experienced by the sector over the past year.
He also said the result was thanks to a “steady performance and resilience of its independent retailer customers”.
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