Speaking at the company’s AGM today (31 August) Metcash CEO Andrew Reitzer told shareholders that sales in the first quarter had met expectations.

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The Australian grocery and liquor wholesaler said sales had increased by 10% to A$7.7bn (US$5.88bn) while net profits after tax rose 23.8% to A$127.9m and EPS increased 34.7% to 21.55 cents a share.


Reitzer said that the group expected its Foodland acquisition to generate EBIT this year of between A$80m and A$90m before restructuring costs.


The group reiterated last month’s forecast that earnings per share for the financial year ending 30 April 2007 will total 22.5-25 cents.

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