Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/014066/06)
Share code MSM. ISIN ZAE000029534
("Massmart" or "the Group")
TRADING UPDATE FOR 2003 FINANCIAL YEAR
For the 52 weeks to 29 June 2003, total Group sales, including acquisitions,
were approximately R20.4 billion, 21.9% ahead of the 53-week period to 30 June
2002. Adjusting the prior year sales for the 53rd week increases the total
current year sales growth to 23.8%.
Before acquisitions and new stores, the Group performed ahead of expectations
with a 52-week comparable store sales growth of 19.0%. New stores added sales
growth of 1.9% while acquisitions contributed 2.9%.
Shareholders are reminded that Group acquired Furnex with effect from 1 January
2002 and Builders Warehouse with effect from 1 March 2003.
As predicted, sales growth slowed in most product categories during the second
half as a result of declining price inflation and softening consumer demand
occasioned by the high real interest rates.
The full results for the 52 weeks to June 2003 will be released on 19 August
2003.
Johannesburg
14 July 2003
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