| Thu 28 Oct 2010, 7:05 | | MSM - Massmart Holdings Limited - Sales Update |
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MSM
MSM
MSM - Massmart Holdings Limited - Sales Update
MASSMART HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1940/014066/06)
Share Code: MSM
ISIN Code: ZAE000029534
("Massmart")
Sales Update
Included in the Massmart June 2010 annual report, to be released on
Massmart`s website and distributed to shareholders today, are the following
paragraphs:
"For the 14 weeks to 3 October 2010, total sales increased by 14.9% and
comparable sales increased by 9.2%, continuing the trends experienced for
most of the second half of the 2010 financial year, specifically strong
General Merchandise and Home Improvement trading performances.
"In the short term, we expect the Food and African businesses to continue to
underperform due to food deflation and the strong Rand, respectively, but
expect gradual improvement in both of these throughout the coming financial
year.
"Acknowledging the concerns and uncertainty permeating the global economy, if
current South African economic and trading trends continue for the financial
year, Massmart should achieve profit growth, before any foreign exchange
translation adjustments, ahead of sales growth for the full year."
The financial information on which this outlook statement is based has not
been reviewed or reported on by the Company`s external auditors.
Johannesburg
28 October 2010
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 28/10/2010 07:05:31 Produced by the JSE SENS Department.
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