Australia's Metcash climbs on upbeat HY result

Metcash

02/12/2024 01:07

** Metcash  MTS.AX  gains as much as 5% to A$3.275, highest
since Oct. 24
    ** Stock posts best trading day since June 26, 2023
    ** Wholesale distributor reports HY NPAT of A$134.6 mln
($87.5 mln) - the top end of co's forecast, beating Jefferies
estimate of A$133.6 mln
    ** Posts HY EBIT of A$246 mln, beating Citi estimates by 2%
    ** Says total group sales for first four weeks of H2 up 8%,
with total food sales (excluding tobacco) climbing 22.6%
    ** Citi says in-line result overall and some signs of
improvement may see the stock up today considering the sharp
sell-off post the last trading update
    ** Stock down 10.6% this year, as of last close

($1 = A$1.5382)

 (Reporting by Nichiket  Sunil)
 ((Nichiket.Sunil@thomsonreuters.com;))