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Masscash consists of a Wholesale Division with Cash & Carry Food and cosmetics businesses, and a Retail Division, which comprises Food outlets targeting lower LSM groups. The Wholesale Division includes CBW, Jumbo Cash & Carry, Trident and Shield. The Retail Division consists of the Cambridge Food and Rhino Cash & Carry brands.
2017 Strategy
  • Improve Wholesale supply chain and logistics capability to facilitate a superior route to market for supplier brands
  • Execute disruptive and responsive Retail value offers, supported by improved stock availability
  • Improve Retail profitability of underperforming stores, whilst accelerating pace of growth of profitable regions
  • Enhance Fresh Food offering to increase participation and margin
  • Roll-out single platform on SAP within Retail Division
Delivering on our strategy
Financial capital

On a 52-week basis:

  • Total sales increased by 0.4%, while comparable sales decreased by 2.3%
  • Wholesale Division grew sales by 1.5%, excluding commodities. Commodities like maize, wheat, oil and rice account for 16% of the business and faced steep deflation over the prior period
  • The Retail Division performed well in this difficult environment, growing total sales by 5.8%
  • Trading profit before interest and tax declined by 54.1%
  • Successfully contained expenses
Manufactured capital
  • Opened four Retail stores in South Africa and one Wholesale store in Zambia
  • Increased net trading space by 5.8% to 377,038m2
  • Completed the first conversion of a Rhino to a Cambridge Food store, achieving a sales increase of 49% in the first two months versus the prior year
Intellectual capital
  • As part of the Wholesale and Retail merger the two executive teams were combined into a single, smaller and stronger executive team under the leadership of Kevin Vyvyan-Day
  • Improved the customer value proposition and experience through better store operations, Fresh department execution and distribution capability
  • Maintained positive price perception in an increasingly competitive environment
Human capital
  • Continued to reduce reliance on labour broking in the Retail Division, from approximately 25% in Q4 2016 to 21% in Q4 2017
  • Improved equity in top management (direct reports to CEO) with a current structure of 38% ACI and 38% female
  • Expansion of our cadetship training and work experience programme for students from disadvantaged backgrounds
2017 Highlights

On a 52-week basis:

  • Sales growth of 0.4% despite heavy commodities deflation
  • Retail sales growth of 5.8%
  • Merged Wholesale and Retail executive teams
  • Opened five new stores increasing net trading space by 5.8%
R31,871.4 million
2016: R31,748.1 million
Trading Profit
R127.1 million
2016: R284.7 million
2016: 123 stores
Total trading space
2016: 356,531 m2
Strategic focus for 2018
  • Drive the Wholesale customer value proposition through continued investment in sales capability
  • Continue to build a superior route-to-market for our suppliers
  • Improve trading densities in new Retail stores, whilst increasing profitability of mature stores
  • Continue to expand the Wholesale store footprint outside South Africa
  • Maintain the momentum in enhancing the business’ Fresh Food proposition
  • Roll-out the SAP roadmap across all regions within the Retail Division
  • Optimise the combined leaner management team and associated support structures
Future outlook

Masscash Retail will continue to extend its national footprint with 10 new stores in 2018 and a further 10 planned for 2019. Key focus areas will include: process and quality improvements to the Fresh departments, IT infrastructure and supply chain projects to improve operating efficiencies, and investments in human capital to support future growth plans. The Wholesale Division will open one new store in South Africa and one in Mozambique in 2018, with one new store in Zambia planned for 2019. The organisational redesign, renewed focus on customer solutions and sales and providing a superior route to market for suppliers will continue to drive gains.

2017 Management
Guy Hayward Non-Executive Chairman
Bruce Cayzer Merchandise
Nomsa Mazibuko Marketing
Craig Surman Retail Operations
Kevin Vyvyan-Day Chief Executive Officer
Neville Dunn Wholesale Operations
Thiruvashani Naicker Finance
Johannes van Lierop Non-Executive
Bronwynne Bester Human Resources
Mike Marshall IT
Joe Ralebepa Non-Executive