Shares of the Australian supermarket wholesaler, Metcash (ASX:MTS), expanded by an impressive 2.4% to reach A$3.9, its top level since June 26, 2023.

This surge in the company’s stock price comes following a trading update that indicated a 5% increase in total food sales, excluding tobacco, during the ten-month period that ended on February 25.

Furthermore, Metcash’s total group sales during this same period reportedly rose by a modest 0.9%.

The company’s food and liquor segments particularly excelled, showing meaningful growth supported by enhanced competitiveness and unique value propositions.

Year to date, Metcash’s shares are up by 9.2%, as per the closing figures from its previous trading session.

Metcash is an Australian supermarket wholesaler.