Metcash : 5 December 2020 Metcash Limited FY2020 Half Year Results Presentation
December 03, 2020 at 07:09 pm EST
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FY20 Half Year Results
5 December 2019
Championing Successful Independents
Group update and divisional results
Jeff Adams
Group Chief Executive Officer
1 1H20 Half YearResults
Our purpose
Our vision
Our values
Championing
Best store in town
We believe:
Independence is worth fighting
Successful
Passionate about independents
Independents
A favourite place to work
Business partner of choice
Support thriving communities
for; in treating our people, retailers and suppliers the way we like to be treated; and in giving back to the communities where we live and work
2 1H20 Half YearResults
Group overview
Group highlights:
Total Food pillar sales (including charge-through) increased 1.2%, with Supermarkets wholesale sales ex tobacco being positive1 for the first time since FY12
Liquor delivered its sixth consecutive year of earnings growth
Our Trade-focused Hardware pillar continued to perform well despite difficult trading conditions
MFuture programs progressing across all pillars
Statutory results for 1H20 reflect adoption of the new Accounting Standard AASB16 Leases. Prior period comparatives not restated for impact of AASB16. To enable comparison, the results for 1H20 have been adjusted, where appropriate, to exclude the impact of AASB16
Group sales (including charge-through sales) increased 0.5% to $7.2bn, reflecting sales growth in the Food and Liquor pillars, partly offset by a decline in Hardware sales
Reported loss after tax of $151.6m includes an impairment of $237.4m (post tax) following the loss of the 7-Eleven contract (1H19 Pre AASB16: Reported profit after tax of $95.8m)
Underlying profit after tax (pre AASB16) was $95.7m (1H19: $100.3m)2
Contribution from resolution of onerous lease obligations ~$10m higher in 1H19
Ceasing to supply Drakes in SA from 30 September 2019
Metcash ceased supply to Drakes in SA from 30 September 2019. Sales growth has been calculated by removing Drakes sales from the prior period (1 October 2018 to 31 October 2018).
In 1H20 underlying profit after tax excludes MFuture restructure costs of $4.8m (post tax) and asset impairment of $237.4m (post tax). In 1H19 underlying profit after tax excludes Working Smarter restructure costs of $4.5m (post tax).
3 1H20 Half YearResults
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Metcash Limited published this content on 05 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2020 00:08:03 UTC
Metcash Limited is an Australia-based wholesale distribution and marketing company. The Company provides merchandising, operational and marketing support for its food, liquor and hardware customers. Its segments include food, liquor and hardware. The food segment distributes a range of products and services to independent supermarkets and convenience retail outlets. The hardware segment is engaged in the distribution of hardware products to independent retail outlets and the operation of corporate and joint venture retail stores. The liquor segment distributes liquor products to independent retail outlets and hotels. It provides various liquor brands, including Thirsty Camel, Big Bargain Bottleshop and Duncans. The Company's hardware brands include Mitre 10, Home Hardware, Total Tools and Hardings Hardware. The Company provides services to independent retailers in various corners of Australia, including Cape York and Cooktown in the Northeast, and Dampier and Broome in the Northwest.
METCASH LIMITED 
