Australian grocery wholesaler Metcash Trading has said it is on the look out for overseas acquisitions.

“There are a few we are looking at,” chief executive Andrew Reitzer was quoted by Dow Jones as saying, adding that the company has a budget of between A$100m and $150m (US$70m-104m) to spend.

Metcash also reported a 25% rise in net profit to $101.8m for the year to 30 April, while sales rose 7% to $7.62bn.

Commenting on the company’s fuel discount scheme, Reitzer said it had worked well in Queensland, while there had been “limited success” in South Australia and New South Wales, reported Dow Jones International News.