Metcash Wields The Axe

Supermarkets, liquor and hardware group, Metcash will report a big blob of red ink for its 2017-18 financial year later this month after taking an accounting axe to its asset base, lopping $352 million from the value of its supermarkets and convenience store business. The news was released to the markets before trading which saw Metcash shares lose 2.1% to $2.70.

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Metcash Disappoints

Australia's third retailing force, the independent wholesaler, Metcash Ltd, disappointed yesterday when it missed most analysts targets for its 2007 profit and doubled up with a less than optimistic forecast of a smallrise in earnings in the 2008 year.

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