Masscash
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Masscash Brands
Masscash consists of a Wholesale Division with cash and carry food and cosmetics businesses, and Retail food outlets which target the lower LSM groups. Our Wholesale Division consists of CBW, Jumbo Cash and Carry, Trident and Shield whilst our Retail Division is consolidated under the Cambridge Food banner and the Rhino Group.
CBW and Trident wholesale food, liquor, groceries and cosmetics in bulk to independent dealers, Government feeding schemes, franchise members, small traders and hawkers in peri-urban and rural areas within southern Africa. Jumbo sells mainly cosmetics, toiletries and hair-care products to individual customers and independent general dealers. Shield is a voluntary buying association that buys products in bulk on behalf of 431 members who own wholesale or retail businesses in South Africa, Botswana and Swaziland.
Masscash offer wholesale customers with formal operations the ability to trade under national retail brands such as Saverite, Multisave, Powersave Liquorland and Club 10 Taverns. Our marketing team offers support to these supermarkets and bottle stores, assisting owners with marketing initiatives such as designing of leaflets, signage and implementing national television and radio advertising campaigns.
On the retail side, outlets are consolidated under the Cambridge Food or Rhino brands. Cambridge Food’s mission is to help its customers save money every day so that they can live better. Food Retail service departments, consisting of an on-site bakery, butchery and fresh fruit and vegetable offering form an important component of our Cambridge Food retail offering.
For the year ended 29 December 2013| Total Rm |
Corporate Rm |
Massdiscounters Rm |
Masswarehouse Rm |
Massbuild Rm |
Masscash Rm |
|
| Sales | 72 263.4 | – | 16 740.6 | 19 675.1 | 9 583.6 | 26 264.1 |
| Operating profit before interest and taxation | 2 152.5 | (37.9) | 449.0 | 988.1 | 505.3 | 248.0 |
| Trading profit before interest and taxation | 2 145.4 | – | 366.6 | 990.2 | 507.6 | 281.0 |
| Net finance (costs)/income | (255.1) | (349.6) | 34.0 | 38.5 | 29.2 | (7.2) |
| Operating profit before taxation | 1 897.4 | (387.5) | 483.0 | 1 026.6 | 534.5 | 240.8 |
| Trading profit before taxation | 2 239.9 | – | 400.6 | 1 028.7 | 536.8 | 273.8 |
| Inventory | 10 115.5 | 12.6 | 3 647.2 | 2 618.2 | 1 597.0 | 2 240.4 |
| Total assets | 26 147.9 | (2 614.7) | 7718.3 | 7 166.8 | 5 212.0 | 8 665.5 |
| Total liabilities | 20 778.3 | (6 027.7) | 7522.2 | 6 587.8 | 4 857.4 | 7 838.6 |
| Net capital expenditure | 2 061.4 | 759.0 | 489.7 | 344.8 | 275.1 | 192.8 |
| Depreciation and amortisation | 731.1 | 33.9 | 256.4 | 145.4 | 121.2 | 174.2 |
| Impairment losses | 41.6 | – | – | 2.1 | – | 39.5 |
| Non-cash items other than depreciation and impairment | 138.0 | 458.0 | 23.3 | (352.2) | 13.6 | (4.7) |
| Cash flow from operating activities | 1 914.5 | 399.4 | 990.1 | 273.9 | 356.9 | (105.8) |
| Cash flow from investing activities | (2 306.3) | (1 424.0) | (490.6) | (385.2) | (275.2) | 268.7 |
| Cash flow from financing activities | 293.0 | 819.4 | (621.6) | 209.3 | 1.4 | (115.5) |
| Inventory days | 63.7 | – | 109.3 | 59.2 | 92.3 | 35.2 |
| Number of stores | 376 | – | 143 | 19 | 92 | 122 |
| Trading area (m2) | 1 481 308 | – | 475 331 | 195 794 | 410 546 | 399 637 |
| Trading area (m2) increase on Dec 2012 | 4.8% | – | 7.7% | 9.3% | 3.7% | 0.6% |
| Trading area (m2) increase on Dec 2012 (excluding re-measurements) |
4.8% | – | 6.5% | 9.3% | 5.8% | -0.2% |
| Average trading area per store (m2) | 3 940 | – | 3324 | 10 305 | 4 462 | 3 276 |
| Distribution centre space (m2) | 323 813 | – | 178 488 | 51 300 | 61 733 | 32 292 |
| Distribution centre space (m2) increase on Dec 2012 | 11.4% | – | – | – | 108.4% | 3.2% |
| Number of full-time equivalents | 37 554 | 403 | 12 870 | 4 929 | 8 882 | 10 470 |
| Number of full-time equivalents increase on Dec 2012 | 4.2% | 28.3% | -6.5% | 27.9% | 9.9% | 4.3% |
- The corporate column includes certain consolidation entries.
- All intercompany transactions have been eliminated in the above results.
- Trading profit before taxation is earnings before corporate net interest, asset impairments, BEE transaction IFRS 2 charges, foreign exchange movements, loss on disposal of business, and assets classified as held for sale.
- Net capital expenditure is defined as capital expenditure less disposal proceeds.
Masscash Value Proposition
All our stores apply the philosophy of supplying the right range of products at competitive prices to low- to middle-income wholesale customers. We keep costs down by employing a no-frills cash and carry warehouse format, coupled with basic distribution centres that supply our private label and important general merchandise ranges. Our private label food brands, Econo and Heritage, offer our customers exceptional value and the assurance of stringent quality and safety controls. Our retail stores are well located, close to high traffic commuter nodes, and offer the best quality at affordable prices.
