Wesfarmers and Metcash continue to show resilience
In this economic environment, it's hard to look past consistent and dependable, non-discretionary businesses. Wesfarmers & Metcash are two such companies that have impressed this earnings season.
Wesfarmers reported a revenue increase of 10.5%, reflecting strong sales growth in Bunnings, Kmart, Officeworks and Catch. NPAT was also up 8.2% to $2,1 million.
While independent retailer group, Metcash, increased its revenue 2% to $13 billion and recorded an underlying EBIT of $324m for FY20.
With extensive ranges of household brands continuing to service the Australian public, there is a lot to like about these two market leaders.