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Massmart, with total sales of R43.8 billion, for the six months to June 2019, comprises four Divisions operating 441 stores, in 13 sub-Saharan countries.

Through our widely-recognised, differentiated retail and wholesale formats, we have leading shares in the General Merchandise, Liquor, Home Improvement and Wholesale Food markets. Our key foundations of high volume, low cost and operational excellence enable our price leadership.

Performance summary

Reviewed
including IFRS 16 in 2019
5.5%
Sales
R43.8 billion
2018: R41.6 billion
54.2%
EBITDA, before non-trading items
R1,867.3 million
2018: R1,211.1 million
52%
Trading profit before interest and taxation
R318.9 million
2018: R664.4 million
Headline loss before restructuring and foreign exchange (taxed)
2018: R0.3 billion earnings
Headline loss
2018: R0.2 billion earnings
Like-on-like*
excluding IFRS 16 in both years
5.5%
Sales
R43.8 billion
2018: R41.6 billion
45.8%
EBITDA, before non-trading items
R656.4 million
2018: R1,211.1 million
100.2%
Trading (loss)/profit before interest and taxation
-R1.4 million
2018: R664.4 million
Headline loss before restructuring and foreign exchange (taxed)
2018: R0.3 billion earnings
Headline loss
2018: R0.2 billion earnings

*  To provide a more meaningful assessment of the current period’s performance, the performance summary has been prepared on a like-on-like basis which excludes the IFRS 16 ‘Leases’ impact in the current period. Refer to note 2 for details on the impact of the new accounting standard using the modified retrospective approach.