Why did Metcash (MTS) shares rally today?
MTS +4.74%: Full-year results out this morning were solid, and marginally ahead of consensus expectations. Underlying profit of $307.5 million was up 2.6% YoY and above Bloomberg consensus of $299.5 million.
Shares remained in a trading halt today after Metcash confirmed that it has entered into binding agreements to acquire Superior Food with for up to $412.3m, Bianco Construction Supplies (82.2m) and Alpine Truss ($64m) in a ~$560m deal.
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MTS +4.74%: Full-year results out this morning were solid, and marginally ahead of consensus expectations. Underlying profit of $307.5 million was up 2.6% YoY and above Bloomberg consensus of $299.5 million.
MTS +0.68%: shares in the wholesaling business rose today despite what look like a miss on first read.
MTS +7.34%: 1H results out for Metcash today and they were strong with EPS growth of 15%.
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