Metcash Ltd. (MCSHF,MTS.AX), an Australian wholesaler of food, grocery, hardware, and liquor, on Monday reported lower profit in fiscal 2026, while Group EBITDA increased amid slightly higher revenues.
Regarding the outlook, Metcash said it enters fiscal 2027 with strong momentum and clear strategy. Group sales have made a steady start to the new year, reflecting softer trading conditions in May followed by a clear improvement in June.
For the first seven weeks of fiscal 2027, group total sales increased 1.9 percent, and the growth was 2.4 percent excluding tobacco.
The firm's cost out program remains on track, with around A$25 million in annualised savings expected in fiscal 2027, supporting earnings resilience.
Separately, Metcash announced that the Metcash dividend Reinvestment Plan or DRP will be suspended until further notice, in accordance with Rule 18 of the DRP Rules.
The suspension will commence immediately and will apply to the final dividend payable on August 26. As per the rule, any positive residual balance in a participant's DRP account will be repaid to them on August 26.
In fiscal 2026, the company achieved net profit after tax of A$279.1 million, a 1.5 percent decline from A$283.3 million in the prior period. Underlying net profit reached A$268.8 million, down 2.4 percent from A$275.5 million a year ago.
Underlying earnings per share decreased 2.4 percent to 24.5 cents from 25.1 cents last year.
EBIT was A$503.7 million, representing a 0.8 percent decline year-over-year. Underlying EBIT, however, improved 1.6 percent to A$516.1 million from A$507.8 million in the prior year.
Group EBITDA increased 1.9 percent to A$761.7 million from A$747.8 million last year.
Revenue reached A$17.35 billion, a 0.2 percent increase from A$17.32 billion in the previous year. Group revenue, including charge-through revenue, edged up 0.7 percent to A$19.63 billion.
Excluding tobacco sales, group revenue grew 3.8 percent to A$19.6 billion from the prior year figure.
In Australia, the shares were trading at A$3.1000, down 2.52 percent.
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