Metro Cash and Carry Limited
("Metro")
Share code: MTC
ISIN: ZAE000012688
Metro`s Australian subsidiary announces excellent results
Metro Cash and Carry Limited`s Australian subsidiary, Metcash Trading
Limited ("Metcash"), today announced its audited results for the financial
year ending 30 April 2002. Salient features of the announcement were -
Turnover on continuing operations up 13.9% to R28.84 billion (A$5.769bn)
Profit before tax up 35.6% to R446m (A$89.2m)
Profit after tax up 76.4% to R289 million (A$57.7m)
The group`s strong performance generated A$136m in cash from operations,
part of which was used to reduce borrowings by A$60m
Metcash announced a final dividend for the year of R0.15 (A$0.03) per share,
making a total dividend for the year of R0.25 (A$ 0.05) per share (2001:
R0.06).
The Chief Executive of Metcash, Andrew Reitzer, expressed his satisfaction
with the performance of all 3 divisions of Metcash, adding that Metcash
remains poised to further boost sales and profit in the new financial year
due to both organic growth as well as additional revenue derived from
Franklins stores sold to independents. Accordingly, it is anticipated that
profits for the next 6-month period will increase by not less than 20% over
the corresponding period.
Sponsor
Rand Merchant Bank Corporate Finance
22 May 2002
Date: 22/05/2002 07:32:00 AM Produced by the SENS Department
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