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Massmart full-year sales top R61bn

Jul 04 2012 14:38 Reuters

Company Data

MASSMART HOLDINGS LIMITED [JSE:MSM]

Last traded 0
Change -1,67
% Change 0
Cumulative volume 184440
Market cap 26.29bn

Last Updated: 01-10-2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

PICK N PAY STORES LIMITED [JSE:PIK]

Last traded 0
Change 0,47
% Change 0
Cumulative volume 410162
Market cap 25.95bn

Last Updated: 01-10-2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

SHOPRITE HOLDINGS LIMITED [JSE:SHP]

Last traded 0
Change -1,2
% Change 0
Cumulative volume 980140
Market cap 79.50bn

Last Updated: 01-10-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - South African discount retailer Massmart Holdings [JSE:MSM] reported a 16% rise in full-year sales on Wednesday, a touch above analysts' estimates, boosted by the inclusion recently acquired stores.

Massmart, majority owned by Walmart Stores, said in a trading statement that sales totalled R61.2bn in the 52-weeks to June 24, slightly beating the R61.1bn in a consensus estimate of 10 analysts polled by Reuters.

The company finalised the purchase of 14 outlets of South African unlisted grocer Rhino Cash & Carry in March, to help it challenge dominant food retailers such as Shoprite Holdings [JSE:SHP] and Pick n Pay Stores [JSE:PIK].

Massmart, which will release its full year-end result on August 22, said all four of its divisions posted double digit sales growth with its wholesale Makro business adding 20.%.

Its Massdiscounters units that comprise its flagship Game stores grew sales by 16.5%, while its building materials unit lifted sales by 13%.

Massmart shares, which have hardly moved so far this year, were up 0.73% at R171.61, valuing the company at $4.6bn.

 
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