Tiger Brokers

BUZZ-Australia's Metcash climbs on upbeat HY result

Reuters
Dec 02, 2024

** Metcash 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;))

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