Australia's Metcash jumps most in over 5 months on strong HY results

Metcash

04/12/2023 24:36

(Adds analysts comments in bullets 4-5)
    ** Shares of Metcash Ltd  MTS.AX  rise as much as 3.2% to
A$3.665
    ** Stock posts its biggest intraday pct gain since June 26
    ** The Australian wholesaler reports strong HY24 results,
posts net profit attributable of A$141 mln ($94.24 mln) vs
A$125.7 mln
    ** However, Jefferies says co's NPAT is a miss to Jefferies
estimates 
        ** Jefferies sees further challenges for co's Hardware
segment, UBS says Hardware rising costs & operating de-leverage
are worse than expected
  
    ** Co reiterates sales growth has continued in 2H24
    ** Stock down 10.8% YTD as of last close

   ($1 = 1.4961 Australian dollars)

 (Reporting by Rajasik Mukherjee and Nausheen Thusoo in
Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))