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Massmart Holdings Posts Group Total Sales Up 3.0% For 52 Week Period

Thursday, 30 Jan 2020

Jan 30 (Reuters) - Massmart Holdings Ltd ::JSE: MSM - SALES UPDATE, TRADING STATEMENT, REORGANISATION OF MASSMART'S OPERATING MODEL AND INVESTOR DAY PRESENTATION.MASSMART HOLDINGS LTD - FOR 52 WEEK PERIOD ENDING 29 DECEMBER 2019, MASSMART GROUP RECORDED TOTAL SALES GROWTH OF 3.0%.MASSMART HOLDINGS LTD - SECOND HALF OF 2019 WAS CHARACTERISED BY TOUGH TRADING CONDITIONS.MASSMART - COMPARABLE STORE SALES INCREASED BY 1.5%, WHILE INTERNAL SALES INFLATION AMOUNTED TO 2.5% FOR 52 WEEK PERIOD ENDED 29 DECEMBER 2019.MASSMART HOLDINGS LTD - SALES GROWTH IN Q4 2019 WAS 0.5% AS COMPARED TO SAME PERIOD IN 2018.MASSMART - TRADING PROFIT, FOR FULL YEAR, BEFORE IMPACT OF IFRS 16, IS EXPECTED TO BE 73.0% TO 83.0% LOWER THAN PRIOR YEAR.MASSMART - INCLUDING IMPACT OF IFRS 16, TRADING PROFIT IS EXPECTED TO BE 40% TO 50% LOWER THAN PRIOR YEAR FOR FULL YEAR.MASSMART - VALUE OF IMPAIRMENT FOR 52 WEEKS ENDING 29 DEC 2019 AND IS EXPECTED TO BE IN REGION OF R200 - R250 MILLION, BEFORE TAX.MASSMART HOLDINGS LTD - SEES FY HEADLINE LOSS PER SHARE EXCLUDING IMPACT OF ADOPTING IFRS 16 BETWEEN 342.9 CENTS TO 384.5 CENTS.MASSMART HOLDINGS LTD - RE-ORGANISATION OF FOUR DIVISIONS INTO TWO BUSINESS UNITS.MASSMART HOLDINGS LTD - SEES FY BASIC LOSS PER SHARE, EXCLUDING IMPACT OF IFRS 16 BETWEEN 396.2 CENTS TO LOSS OF 437.3 CENTS.MASSMART - MASSCASH, MASSWAREHOUSE, MASSBUILD, MASSDISCOUNTERS TO BE RECONSTITUTED INTO MASSMART WHOLESALE AND MASSMART RETAIL.

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