A word from our CEO, Guy Hayward
While the headline figures are indicative of the exceedingly difficult consumer environment that persisted in the period, they mask a much-improved performance in the second half of 2017.
In this second half, three of the four divisions recorded higher comparable sales growths than the second half of 2016. The work we have done on enhancing our operational efficiencies, reducing the cost of execution and refining our product mix means we are well positioned to take advantage of a cyclical upturn.
Play Video
http://vod.overendstudio.co.za/video/massmart_ceo_22-02-2018.mp4
A word from our CEO, Guy Hayward
While the headline figures are indicative of the exceedingly difficult consumer environment that persisted in the period, they mask a much-improved performance in the second half of 2017.
In this second half, three of the four divisions recorded higher comparable sales growths than the second half of 2016. The work we have done on enhancing our operational efficiencies, reducing the cost of execution and refining our product mix means we are well positioned to take advantage of a cyclical upturn.
Play Video
http://vod.overendstudio.co.za/video/massmart_ceo_22-02-2018.mp4
In review
2017 at a glance
Total sales growth of 2.7% to R93.7 billion (52 weeks: R92.1 billion)
Superb expense control, comparable expense down 1.3%
Trading profit before interest increased by 4.2% (52 weeks: 5.4% decrease)
Headline Earnings increased by 14.0% (52 weeks: 1.6% increase)
Delivering to
our strategy
Massmart is a managed portfolio of four divisions, comprising 423 stores