SYDNEY, AAP – IGA Supermarkets owner and distributor Metcash has reported record annual sales driven by an uptick in revenue from its food, liquor and hardware operations.
The sales momentum for the 2021 fiscal year ended April has continued into the first eight weeks of the new year, as consumers continued to spend up on food, liquor and hardware.
“It has been a standout year for Metcash,” CEO Jeff Adams said in a statement on Monday.
“The group has continued to benefit from a shift in consumer behaviour in the first eight weeks.”
However, Metcash cautioned there was still some uncertainty over the potential impact of any future COVID-related trading restrictions.
Top Australian Brokers
Metcash, which also owns Mitre 10, reported a bottom-line net profit of $239 million for fiscal 2021.
Underlying net profit was $252.7 million, up about 27 per cent, on a revenue jump of almost 10 per cent to a record $14.3 billion.