Chairman's review

Among the more notable developments coincident with Massmart’s reporting period was the nadir of the most serious global financial crisis since the Great Depression, South Africa’s first recession in seventeen years, and the transition from the second to the fourth President of our Republic. read more

Chief Executive Officer’s review

Management’s focus shifted during the year in response to declining sales growth. Without taking our eyes off the long-term growth imperative, the preservation of the income statement and balance sheet became paramount, with the threat to the availability of bank financing uppermost in our minds. read more

Highlights

Total sales*		R43.1bn
Operating profit before foreign exchange movements*		R2.0bn
Return on equity		R41.7%