Metcash profit sinks in 2012
Thursday, June 28, 2012/
Metcash has posted a significant drop in full-year profit, down 62% to $90 million for the 12 months ending April 2012.
The company also said revenue had fallen 0.8% to $12.3 billion, even though sales rose and underlying profit actually increased by 2.5% to %262.5 million.
In a statement to the ASX, the company said EBITDA had risen 3% to $451.2 million, but that full-year profit was down due to the difficult retail environment, along with costs associated with its restructure.
“Over the last 12 months, the group has dealt with a range of challenging issues, including weak consumer sentiment, the strong Australian dollar and a marketing war between the two national grocery chains, which has contributed to the deflation experienced in dry grocery and fresh product,” the company said.
This article first appeared on SmartCompany.
Be honest about your situation: How vulnerability helps businesses thrive Sue Parker DARE Group founder
Own it: The 10 things you need to do to manage your personal brand Lisa Stephenson Who Am I Projects founder
Six invaluable lessons: What 20 years in aged care taught me about being an entrepreneur Natasha Chadwick NewDirection Care founder
An entrepreneurial superpower: Eight tips to help develop resilience Adala Bolto ZADI Training co-founder
Going through a lull? Five areas you should invest in when sales drop Tamara Alaveras and Sonia Majkic 3 Phase Marketing co-founders
Stop telling us how busy you are, it's boring and charmless Ian Whitworth Scene Change co-founder
Blandification™ and the state of modern branding Jeffrey Oley The Offices co-founder
Why you should find the right role for the right person — not the other way around Bruce Stronge Outfit founder