ISRAEL UNREST BATTERS METCASH PROFITS

SOUTH Africa’s largest wholesaler Metro Cash and Carry (Metcash) said this week it expected a loss in its first half year results due to unrest and tough trading conditions in Israel. ”This coupled with the write-off of the recent VAT settlement of R128m rand will result in the income statement reflecting an attributable loss for the said period,” Metcash said. It said its interim results would be published around December 6. – Reuters