Australian grocery retailer Metcash has forecast a more than 20% increase in earnings before interest and tax (EBIT) for the year to 30 April 2004 for its Campbells Cash & Carry unit.
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Metcash said the current strong growth experienced by the Campbells unit appears to reflect the division’s strategy of focusing on confectionery while downplaying tobacco and alcohol, reported Dow Jones International News.
Peter Dubbelman, chief executive of Campbells, said the group has already reached it’s A$150m (US$102m) confectionery sales target for the year. The division expects its total sales to break the A$1bn mark in fiscal 2004.
