Metcash Earnings Forecast

Grocery wholesaler, Metcash (ASX:MTS) have released their earnings forecast to the ASX stockmarket.

• Metcash has announced that it will grow by "low to mid-single digits" for its existing businesses in 2012-13.
• The adjusted earnings guidance comes after its capital raising, acquisitions and expects earnings per share dilution to be 1 to 3 percent in 2013.
• The company is acquired the remaining 49.9 per cent of Mitre 10 and Automotive Brands Group in July, and is funding it via a $325 million capital raising in June.
• The announcement to the ASX said, "All announced initiatives are expected to be EPS accretive in the first full year of operation."
• Metcashs' its liquor wholesale division ALM had signed a 15-year supply agreement with Liquor Marketing Group, and Hotel & Tourism Management. The agreement, which covered about 1,700 stores, represented about $655 million of new volume. ALM business had sales of $2.33 billion in the previous year.
• The Metcash financial year ends in April.
• MTS stocks closed last week at $3.66 per share on the ASX stockmarket.