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Metcash Ltd (ASX:MTS) has improved its full year result by 6.1 per cent, posting a net profit of $241.4 million.
The grocery, liquor and hardware wholesaler says the result was achieved on the back of a 7.4 per cent rise in wholesale sales to $12.4 billion.
The company describes the results as credible given the challenging trading conditions, including deflation, underlying cost inflation and a value driven consumer.
Metcash has also advised that the Federal Court’s decision in relation to the company’s acquisition of the Franklins supermarket chain is imminent.
In the first half of its 2011 financial year, Metcash recorded a net profit of $113 million for the six months to 30 October.
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