JUNE 15, 2015
AAP
GROCERY wholesalers Metcash has posted a $384 million full year loss after intense competition in the supermarket sector resulted in $640 million in writedowns.
THE loss compares to a $169 million profit for 2013/14.
But the group recorded underlying earnings before interest and tax of $325 million, which is at the upper end of the group’s $315 million and $330 million guidance range.
The group also announced it would sell its automotive division, which includes the Autobarn, Autopro and Midas brands, to Burson Group for $275 million.
Posted in Industry News
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