Metcash shares have peaked at their highest level in more than three and a half years.
A 24 per cent rise in first-half profit, was seen across the food, liquor and hardware divisions.
Metcash’s food division, had a 5.8 per cent lift pre-tax earnings, compared with 8.1 per cent fall in earnings from the same period last year.
Outgoing chief executive Ian Morrice said the group was working through a “Working Smarter” cost savings program over a period of three years.
“The savings achieved have been a key factor in supermarkets maintaining its earnings, despite the significant headwinds that include a continuing high level of deflation,” he said.
Inside FMCG said: “The group made a net profit of $92.9 million in the half, up 24 per cent on the prior corresponding period.”
Following the acquisition of Home Timber & Hardware from Woolworths in 2016, group sales revenue rose to 7.1 billion.
Mr Morrice said it had been a great acquisition that allowed the company to deliver better outcomes for the company and for independent hardware retailers and consumers.