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ASX 200 falls, Metcash down, 4DMedical drops

Metcash’s trading update was a highlight from the ASX 200 today.
The post ASX 200 falls, Metcash down, 4DMedical drops appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) fell 0.1% today to 7,527 points.

Here are some of the highlights from the ASX:

Metcash Limited (ASX: MTS)

Metcash gave an update for the first 16 weeks of FY22 to 15 August 2021. The ASX 200 company said that trading has continued to be strong in all pillars and “well above” pre-COVID levels in FY20.

There were a few drivers of this trading, including more local neighbourhood shopping and consumers moving from the city to regional areas.

Metcash told the market that total food sales increased by 3.1% compared to the same period in FY20, though compared to FY21 food sales were down 7.4%.

Total liquor sales were 23.1% higher compared to the same period in FY20 and 9.5% higher compared to FY21.

The total hardware sales increased 37.8% compared to the same period in FY20 and were 16.3% higher compared with the same period in FY21. Strong demand is continuing to put pressure on stock availability, particularly timber.

Metcash also said that its store networks have improved competitiveness because of its MFuture program which aims to improve the performance of the ASX 200 business.

4DMedical Ltd (ASX: 4DX)

4DMedical announced today that it has successfully completed phase one of its clinical pilot program with Australia’s leading medical imaging provider, I-MED Radiology Network.

This pilot provided I-MED radiologists with the ability to use XV lung ventilation analysis software in patient settings to provide insights into patient care.

The company said that the phase one pilot received “overwhelmingly positive” feedback from radiologists and patients.

The software was used on various respiratory diseases, including asthma, chronic obstructive pulmonary disease, bronchiectasis, sarcoidosis, silicosis and long COVID.

Phase two will be completed over the remaining year to assess a potential commercial partnership.

4DMedical said that while the partnership is not generating revenue at this stage, it’s aiming to secure a contract with I-MED provided that phase two is successful.

The 4DMedical share price fell by 4% today.

EBOS Group Ltd (ASX: EBO)

The EBOS Group share price edged lower today after announcing that it had completed the purchase of Sentry Medical. This acquisition is a designer, marketer and distributor of a broad range of medical consumable products, including its own brands and agency brands.

Sentry is based in Australia and supplies customers including wholesalers, hospitals, general practitioners, dental surgeries, aged care facilities, pharmacies, government agencies and vet clinics.

EBOS said this acquisition will further strengthen its presence in the distribution of medical consumables to the institutional healthcare market, which is a growing business for EBOS.

The post ASX 200 falls, Metcash down, 4DMedical drops appeared first on The Motley Fool Australia.

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