August 23, 2018 / 5:36 AM / in 2 months

South Africa's Massmart H1 profit drops 42 percent

JOHANNESBURG, Aug 23 (Reuters) - South African retailer Massmart Holdings reported a 42 percent drop in half-year profit on Thursday due to restructuring costs and weak consumer spending.

Massmart, a unit of Walmart Inc , said headline earnings per share (EPS) for the 26 weeks through July 1 came in at 96 cents compared with 169 cents per share in the same period a year earlier.

Headline EPS is the most widely watched profit gauge in South Africa and strips out certain one-off and non-trading items.

Reporting by Patricia Aruo Editing by Tiisetso Motsoeneng

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