Metcash lifts profit

Australian grocery and liquor wholesaler Metcash says its first-half profit increased 13 per cent, as the company faces tough competition.

Metcash, which is buying most of the Australian grocery business owned by Foodland Associated, said net profit for the six months to October 31 before a recent capital reorganisation and the acquisition of Foodland assets was A$56.8 million ($61.3 million) from A$50.13 million a year ago.