Metcash Limited (ASX: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 today released its first half results, which showed a 14% decrease in 1H profit to $94.4 million.
The company said the decrease was due to grocery price deflation, economic uncertainty and a cut in margins due to increased competition.
Metcash said it expects low-to-mid single digit earnings growth for the full year.
MTS will pay an interim dividend of $0.115.
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