Metcash’s FY26 performance demonstrates the strength and resilience of the wholesaler’s business model, according to Metcash Group CEO Doug Jones.
For the year ended 30 April 2026, the business reported Group revenue of $19.6 billion, up 0.7% on the year prior.
Excluding tobacco, Group revenue increased by 3.8%. EBITDA rose 1.9% to $761.7 million.
“Despite mixed trading conditions across our markets, we delivered solid earnings, strong cash generation and continued progress on our long-term strategic priorities,” says Mr Jones.
“Our scale, our national supply chain, and our deep relationships with independent retailers remain powerful competitive advantages. We now support ~105,000 customers, ~6300 bannered stores and reach ~95% of Australians – a unique platform that continues to generate resilient, high-quality cashflows.
“We are winning with independents because we combine the benefits of scale with the agility and community connection of local ownership. This combination is difficult to replicate and continues to underpin our performance across all pillars.”
Food
The food pillar delivered a strong performance in FY26, with EBIT increasing 5.4% to $261.8 million.
Total revenue including charge-through was $10.5 billion. Excluding tobacco, sales grew 5.4% with the business attributing this to the continuation of improving its competitiveness and value proposition.
“The IGA network remains a core strength, with the large-store price gap narrowing to 2.1%, making the network more price competitive than ever,” says Metcash.
Foodservice and convenience continued its rapid expansion, according to the wholesaler, supported by the integration of Superior Foods and strong demand from corporate customers.
Outlook
Group sales have made a steady start to FY27, according to Metcash, reflecting softer trading conditions in May followed by a clear improvement in June.
Food and liquor experienced a subdued May, notes the wholesaler, as consumer sentiment softened in response to geopolitical uncertainty and cost-of-living pressures.
“Both pillars have recovered well in the first three weeks of June, trading in line with FY26 growth levels as conditions stabilised,” says Metcash.
Campbell’s & Convenience has cycled the Ampol contract win and is expected to benefit from the commencement of new tobacco contracts over the balance of FY27.
“Metcash enters FY27 with strong momentum, a clear strategy and a deep commitment to helping independent retailers thrive in their local communities,” says Mr Jones.
