Metcash, whose portfolio includes IGA and Mitre 10, has jumped back to profit with a $216.5 million annual net profit. 

“Key supermarkets initiatives are delivering returns and the liquor and hardware businesses continue to build momentum,” said, Ian Morrice, Metcash CEO.

According to an Inside Retail report, IGA’s like for like retail sales jumped 1.4 percent within the fourth period of sales growth.

Hardware sales climbed up 0.8 percent to $1.06 billion.

The news comes after the Mitre 10 upset Woolworths in the wake of the Master’s meltdown by allegedly invited up to 20 of Home Timber & Hardware’s best performing franchisees to the Metcash-owned hardware business’ annual expo.