AUSTRALIA: Metcash profits seen soaring
Australian supermarket operator Metcash Trading Ltd forecast annual pre-tax profits from ongoing business to rise 45-55% on strong turnover growth. Last year the group posted pre-tax profits worth A$58.7m (US$29.9m) last year, indicating expected profits for the year to 30 April 2002 at A$85m to A$90.99m. Metcash is the Australian division of South African retail giant Metcash Ltd.
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