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MSM
MSM
MSM - Massmart - Trading Statement For The Financial Year To 28 June 2009
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000029534
("Massmart" or "the Group")
Massmart trading statement for the financial year to 28 June 2009
Reporting 52-weeks compared to 53-weeks
Shareholders are reminded that the June 2008 statutory financial year was a
53-week period and so the financial results for that period are not strictly
comparable to this financial year`s 52-week period. For this reason, this
financial year`s results will be compared to the results for the equivalent
52-week period in the prior year. For completeness however, the figures
comparing this year`s 52-week period to the prior year`s 53-week period are
also shown below.
Unrealised Foreign Currency Translation Effect
Due to the global economic crisis, many African countries` currencies
weakened significantly in the six months to June 2009. In Massdiscounters`
African stores, these weaker currencies gave rise to a larger than
anticipated unrealised foreign currency balance sheet translation loss.
Consequently, the Group will report an estimated total net unrealised
translation loss of R78 million (prior year: R63 million unrealised gain).
Expected Group Financial Results
Comparing this financial year to the equivalent 52-week period in the prior
year:
- Including the Group`s net foreign currency translation effect, the 2009
headline earnings per share (HEPS) is expected to be between 0% and 8%
below the prior year HEPS figure of 634 cents.
- Excluding the net foreign currency translation effect from both
financial years however, the 2009 adjusted HEPS is expected to be
between 0% and 8% higher than the equivalent prior year adjusted HEPS
figure of 612 cents.
Comparing this financial year to the prior year`s 53-week period:
- HEPS is expected to be between 4% and 12% below the prior year`s HEPS
figure of 663 cents.
- Attributable earnings and earnings per share are expected to be between
3% and 11% below the prior year figures of R1 314 million and 660 cents
respectively.
Massmart`s reviewed preliminary results for the financial year to June 2009
will be released on 27 August 2009.
The above information has not been reviewed or reported on by Massmart`s
auditors.
Johannesburg
16 July 2009
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 16/07/2009 08:43:01 Produced by the JSE SENS Department.
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