Australia's Metcash hits over 3-1/2-year low on bleak HY profit outlook

Metcash

25/10/2024 01:18

** Shares of Metcash  MTS.AX  fall as much as 3.9% to A$3.170,
their lowest level since Dec 4, 2020
    ** Stock on track for their fourth consecutive day of losses
** Marketing co sees group underlying net profit after tax
between A$132 mln ($87.57 mln) and A$135 mln for H1 FY25
** Co posted underlying profit after tax of A$142.5 mln in H1
FY24
    ** Says year-to-date group sales are up 6.3% from last year
    ** Says there has been further margin pressure in retail
stores in September and October for its independent hardware
division
    ** Stock down 5.4% YTD as of last close 
       
     
     
    ($1 = 1.5074 Australian dollars)

(Reporting by John Biju in Bengaluru)
((mailto:John.Biju@thomsonreuters.com))