Metcash Limited (AU:MTS) has released an update.
Metcash Limited reports a marginal 0.7% increase in sales revenue to $15.9 billion for FY24, but faces a slight 0.9% dip in underlying EBIT to $496.3 million and an 8.2% decrease in underlying profit after tax, mainly due to challenges in the Hardware sector and rising finance costs. Despite a competitive market, the Food and Liquor sectors showed earnings growth, with strategic initiatives and acquisitions partly offsetting the overall decline in profits.
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