Massmart - Sales update for the 52 weeks to June 2
Massmart - Sales update for the 52 weeks to June 2005
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/05)
Share code: MSM
ISIN: ZAE000029534
(`Massmart` or `the Company`)
Sales update for the 52 weeks to June 2005
For the 52 weeks to June 2005, Massmart`s total sales, including acquisitions,
were R26.6 Billion, 11.7% Ahead Of The 52 Weeks To June 2004. Sales Before
acquisitions grew 9.4% and comparable store sales grew 5.3%.
With overall Group sales deflation of 2.2% (comprising 0% inflation in food and
liquor and deflation of 4.9% in general merchandise), total volume growth of
13.9% was in line with our expectations. Real comparable store growth of 7.5%
was pleasing.
Although the rate of sales growth has declined gradually in all divisions since
October 2004, most of the decline in the rate of cumulative sales growth since
that reported in Massmart`s interim results, is attributable to the Group`s
previously communicated decision to move away from low return, higher risk
business in Shield and Furnex in the Masscash division, which produced second
half sales substantially below that of 2004.
The above information has not been reviewed or reported on by the Company`s
auditors.
Massmart`s preliminary results for the year to June 2005 will be released on 25
August 2005.
Johannesburg
6 July 2005
Sponsor
Deutsche Securities (SA) (Pty) Ltd
Date: 06/07/2005 12:30:03 PM
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