MASSMART HOLDINGS LIMITED - PROSPECTS STATEMENT IN ANNUAL REPORT
Massmart Holdings Limited
(Registration number 1940/014066/06 )
JSE code: MSM
ISIN ZAE 000029534
("Massmart" or "the Group")
The Massmart annual report for the year ended 30 June 2003 that was posted to
shareholders on 24 October 2003 included the following statement on the Group"s
prospects for the year ended 30 June 2004:
"For the first 15 weeks of the current financial year, sales growth, including
the Builders Warehouse and Tile Warehouse acquisitions for the first time, was
14.5%. Comparable store sales growth for the same period was 7.3%. Deflation
is evident in many product categories, arising predominantly from the impact of
a stronger Rand on direct or indirect imports and on local merchandise
influenced by the exchange rate. Estimated volume growth is 4.5%. Profit is in
line with budget and ahead of the comparable period in the previous year.
In line with strategy, and slightly ahead of Massmart"s 2007 Vision for Growth
objectives, at least 14 stores will be added to the Group"s 142-store portfolio
in the current year."
27 October 2003
Johannesburg
Sponsor: UBS
Date: 27/10/2003 05:45:02 PM Produced by the JSE SENS Department
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