Metcash expects drop in FY underlying profit, rise in revenue
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The news: IGA and Mitre 10 owner Metcash expects to deliver underlying net profit after tax of between $268 million and $270 million for FY26, which would be down from $275.5 million achieved in FY25.
The numbers: The group expects full-year revenue to rise 0.7% year on year to $19.6 billion, or 3.7% excluding tobacco sales.
The context: Metcash said there has been “no material impact” on its FY26 earnings from increased freight or product costs related to the Middle East conflict.
It noted that impacts have been mostly offset through pricing mechanisms and active management.
What they said: “We have delivered a solid result supported by the resilience of our Food and Liquor businesses, our diversified portfolio and disciplined execution,” said Metcash chief executive Doug Jones.
“Hardware & Tools maintained share in a soft trade market, with improved second half sales momentum. We have taken further action to strengthen the business and position the group for sustained performance.”
The source: ASX
