Massmart boasts a 10 per cent sales hike - CNBC Africa

Massmart boasts a 10 per cent sales hike

Earnings

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Makro is one of the Massmart chain stores. PHOTO: Super Market

[DATA MSM:Massmart Holdings Limited] announced its sale increase for the full year ended 29 December 2013.

“[The wholesaler’s] total sales increased to 72.2 billion rand, representing total growth of 9.7 per cent on the 52 weeks to 23 December 2012, with product inflation estimated at 2.7 per cent," Massmart said in its update sales statement.

Massmart is a South African-based globally competitive regional management group, invested in a portfolio of differentiated, complementary, focused wholesale and retail formats.

Comparing 2013’s 52-week period to the same time in the previous year, shows a total growth of 7.5 per cent and comparable store sales growth of 3.8 per cent.

The company recorded positive total sales growth for each division with Massdiscounters recording an 8.6 per cent increase, while Masswarehouse increased by 14.1 per cent. Other divisions such as Massbuild and Masscash increased by 11.9 and 6.5 per cent, respectively.

Massmart is the second-largest distributor of consumer goods in Africa, and the leading wholesaler of basic foods.

“The estimated net sales lost due to closing the group’s stores on 15 December 2013 in honour of the late President Nelson Mandela’s burial were approximately R200 million," the company said

The group further added that the closures affected total and comparable store sales growth for the 52-week period by approximately 0.3 per cent each.

 

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