The Metcash Limited share price is heading higher ahead of its full-year results

The Metcash Limited (ASX: MTS) share price has been a big mover during trade today.

In afternoon trade the wholesale distributor’s shares are up over 3% to $2.13. Pleasingly for its shareholders, this latest gain has limited its year-to-date decline to just 7%.

The expansion of discount retailer Aldi in Australia and a price war between Coles and Woolworths Limited (ASX: WOW) supermarkets have weighed heavily on Metcash’s performance in the last 12 months.

This led to Metcash posting a 38.6% drop in reported half-year profit after tax to $74.9 million in November.

Its FY 2017 results are due to be announced on June 26. According to Bloomberg, analysts expect earnings per share to come in at 19.4 cents. This will be down around 3.5% from 20.1 cents in FY 2016.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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