Metro Cash And Carry Limited - Company Announcemen
COMPANY ANNOUNCEMENT
Metcash Trading Limited, the Australian listed subsidiary of Metro Cash and
Carry Limited today issued a statement in terms of the requirements of the
Australian Stock Exchange on the expected results for the six months to 31st
October 2001. The full text of this announcement appears below:
"At the company's Annual General Meeting on the 3rd September 2001 Members
were advised that Group Sales were 9.5% ahead of the same period last year,
that IGA Distribution had earned a 1% gain in market share and that
operating profit after tax for the 6 months ended 31st October 2001 was
expected to exceed that of the previous corresponding half year.
With the completion of the September management results and October sales
and as part of the group's continuous disclosure programme, it is now
possible to provide a better indication of the range within which the
results for the six months to 31st October 2001 are likely to exceed that
for the six months to 31st October 2000.
It is anticipated that operating profit before tax for continuing businesses
will be between 25% and 35% higher than for the six months to 31st October
2000. That is, between $38 million and $41 million compared to $30.2
million for the same period last year. This advice is provided prior to
completing the October profit reports and the subsequent audit review."
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