Massmart Says 2017 Sales Increase 2.7 Percent to R93.7 Billion
Retail group Massmart said on Thursday total sales for the 53 weeks to 31 December 2017 increased by 2.7 percent to R93.7 billion compared with the 52 weeks to 25 December 2016.
The company noted that its 2017 financial year was a 53-week trading period ended 31 December 2017, which complicated useful comparisons with the prior year’s 52-week period ended 25 December 2016.
Massmart, which owns such brands as Game, Makro, Builder’s Warehouse and CBW, said total sales rose by a lesser 1 percent to R92.1 billion when making an exact 52 week comparison between 2017 and 2016.
“The second half of 2017 saw improved comparable sales performances in both Massbuild and Masswarehouse in South Africa (SA) and in all divisions’ ex-SA stores,” it said.
“Management of Massmart’s operating expenses and working capital remains effective.”
Massmart operates about 419 stores in South Africa and 12 other sub-Saharan Africa countries. (via African News Agency)