Metcash provides FY2023 sales update; Shares up on ASX

Metcash Limited (ASX: MTS) has provided YTD FY2023 sales update. The Company reported an 8.9% growth in all pillars.

• Food sales increased 4.3%, reflecting continued strong demand in both the Supermarkets and Convenience businesses, and higher wholesale inflation.
• Supermarkets sales increased 3.4% (+5.5% ex tobacco) reflecting constant robust demand and higher wholesale inflation.
• Hardware sales improved 19.5% with sustained robust demand in IHG as well as Total Tools, acquisitions and the impact of higher inflation.
• Liquor sales grew 11.5% reflecting continuance of the recovery in on-premise sales and solid demand from retail stores.

At AEST 11:31 AM, MTS shares are trading at AU$4.175, up 1.334% from its previous close. 

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