Australian Shares News Metcash Limited (MTS)

Metcash Limited (MTS) | ASX All Ordinaries Shares News | ASX MTSMetcash Limited (MTS) is a leading marketing and distribution company operating in the food and other fast moving consumer goods categories.

MTS operates via three business units: IGA Distribution (retail), Campbells Cash & Carry (wholesale) and Australian Liquor Marketers (ALM; liquor wholesale)

Metcash announced solid FY11 results today, with profit up 6.1% to $241.4 million.

Underlying earnings rose 6.1%, but operating cash flow was disappointing, sliding 51.6%.

The company declared a 16 cent final dividend, bringing total dividends for the year to 27 cents.

Despite the mostly positive results, the company did issue a cautious outlook, saying conditions are likely to remain challenging for the rest of 2011.

The market was reasonably happy with the results as MTS shares gapped up a couple of percent this morning on the news before pulling back to close up 0.5% at $3.90.

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