Australian grocery and liquor wholesaler Metcash maintained earnings guidance of after tax profit of almost $197 million on the back of sales revenue expected to pass the $10 billion mark for the first time. The third largest player in the grocery industry, Metcash came under scrutiny from the ACCC during the recent Grocery Price Inquiry, but Chief Executive Andrew Reitzer was content with the outcome. Pleased with the “creeping acquisitions” proposals and “workably competitive”... ...Read more »

Fraudulent activity has been discovered in the UK which could be leading to the sale of unsafe food. The Food Standards Agency and police are warning food companies to be on the alert to a fraud, which involves identity theft, that may have affected a number of food businesses across the country. The fraudsters are alleged to have targeted small legitimate wholesale food businesses that supply meat, seafood and fruit and vegetables. The alleged offenders work by acquiring authentic letter heads of... ...Read more »

Australia’s largest wholesaler, Metcash Limited, has posted an 18.4 per cent rise in net profit in the year to 30 April 2008. Fresh produce sales and their distribution business provided the impetus for the company to deliver record results. Metcash Chief Executive Officer, Mr Andrew Reitzer, was very pleased with the result in the wake of difficult conditions. “The result has been very strong across all of our three main divisions, despite tighter economic conditions, with... ...Read more »