Financial and Manufactured Capital

Massmart defines financial capital as the funds available to and utilised by the Group. Manufactured capital is defined as our Divisional structure through which we sell our products and services.
Reduced growth in
occupancy costs


growth in


Decreased capital
expenditure levels
excluding property acquisitions


employment and finance costs


costs were well controlled



For the 52 weeks ended 28 December 2014 Massmart’s total sales of R78.2 billion increased by 10.4% over the prior comparable year. Comparable stores’ sales growth was 7.5% with product inflation of 4.8%. Group EBITDA of R2.9 billion, before foreign exchange movements, grew by 6.7% while operating profit, excluding foreign exchange movements and interest, grew by 4.3%.

Chief Financial Officer’s review >