Why Metcash (MTS) shares rallied today
MTS +7.34%: 1H results out for Metcash today and they were strong with EPS growth of 15% despite coming off a very strong comparable period i.e. the starting point was high. It was even more impressive considering the loss of its 7-Eleven contract while they also had lower tobacco profits which implies the rest of the business is accelerating. They went on to say that the 2H has started well, with year on year growth in every segment. Overall, it was a big beat to consensus and with strong momentum in the underlying business, expected upgrades on the back of this.
MM is long & bullish MTS for income & growth
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