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Massmart 14-week total stores' sales up

23 Oct 2012

Consumer goods distributor Massmart Holdings (MSM) on Monday, 22 October 2012, said that for the 14 weeks to 30 September‚ total stores' sales increased by 16.6% and comparable stores' sales increased by 7.8%‚ continuing the trends experienced at the close of the last financial period.

"With the coming change in Massmart's financial year-end‚ the next reporting period will be the 26-week "financial year" to December 2012‚" the company said.

It added that sales and gross margins were expected to grow satisfactorily‚ although cost pressures would remain.

"Currently we expect no improvement in the group's net trading margin for either the 26-weeks to December 2012 or for the year to December 2013. Beyond the next 18 months‚ we believe the group is well positioned for strong growth‚ in both sales and profits‚" Massmart added.

Source: I-Net Bridge

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