Less cash at Metcash
Metcash increased first-half sales to October 31 by just 0.3 per cent. But as the table shows, profit after tax dropped 38.6 per cent to $74.9 million:
Liquor sales increased 1.6 per cent to $1.56 billion, accounting for 23 per cent of sales, and grew 4.6 per cent in EBIT to $27.1 million, accounting for 22 per cent of profit.
The Aldi factor came into play, neatly put in the accounts as:
“Grocery EBIT down 8 per cent – Supermarkets impacted by an intense trading period, expansion of competitor footprint in SA and WA and closed stores.”
Liquor outlets, including Cellarbrations and the Bottle-O, total 2571, down from 2674 last year.