South African retailer Metro Cash and Carry has reported a 29% rise in full-year earnings, boosted by its overseas operations, and forecast solid growth.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company said headline earnings per share (EPS), which strip out exceptional items and their tax effects, increased to 26.18 cents for the 12 months to 30 April 2003, compared with 20.23 cents in the previous year.
Metcash reported a 20% rise in turnover to 51.8bn rand (US$6.37bn) from 43bn rand a year earlier.
“Notwithstanding the generally poor economic climate, the volatile currency and the various uncertainties confronting the international community, the group has laid a sound foundation for the future,” Metcash was quoted by Reuters as saying.
“This, coupled with the group’s improved gearing position, should result in solid future growth and earnings,” the company added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe retailer attributed part of its strong performance to its Australian operation Metcash Trading, which recently reported a 41% rise in annual profits.
