Edition:
United Kingdom

South Africa's Massmart earnings drop, cuts dividend


Thursday, 28 Feb 2019 

Feb 28 (Reuters) - Massmart Holdings Ltd ::FY SALES UP 2.9% TO R90.9 BILLION 2017: R88.4 BILLION.FY HEADLINE EARNINGS DOWN 31.7% TO R901.2 MILLION.FY TOTAL DIVIDEND PER SHARE DOWN 40.1% TO 208.00 CENTS.HANS VAN LIEROP, CFO INDICATED HE IS NOT AVAILABLE TO EXTEND HIS TENURE IN S.A AFTER CONCLUSION OF HIS SOUTH AFRICAN WORK VISA IN FEB 2020.REMAIN CAUTIOUS ABOUT OUTLOOK FOR SOUTH AFRICAN CONSUMER ECONOMY FOR FIRST HALF OF 2019 FINANCIAL YEAR..