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13-Sep-2017
(Official Notice)
Shareholders are advised that Mr Raboijane Moses Kgosana has resigned as a non-executive director of the company, member and Chairman of each of the Massmart Audit and Risk Committees with immediate effect.



Update on retiring director

Shareholders are further referred to the announcement released on 4 July 2017 relating to the retirement of Mr Chris Seabrooke from the Massmart Board with effect from 31 December 2017. In view of the aforesaid changes in the composition of the Audit and Risk Committees, Mr Seabrooke, who is currently the Deputy Chairman and lead independent non-executive director of the Company has agreed to remain on the Board until such time as is required by the Board, and will, with immediate effect assume the role of chairman of the Massmart Audit and Risk Committees.
24-Aug-2017
(Official Notice)
Notice is hereby given that the Company?s Annual Compliance Report required to be published in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003, as amended (the 'B-BBEE Act?) and paragraph 16.20 (g) and Appendix 1 to Section 11 of the JSE td. Listings Requirements is available on the Company?s website: www.massmart.co.za.

24-Aug-2017
(C)
Revenue for the interim period improved slightly by 0.4% to R42.6 billion (R42.5 billion) whilst gross profit decreased by 2.3% to R8.0 billion (R8.2 billion). Operating profit before interest dipped 6.6% to R765.1 million (R819.1 million). Profit attributable to owners took to 6.5% knock to R333.2 million (R356.3 million). Furthermore, headline earnings per share improved by 2.4% to 151.8 cents per share (148.2 cents per share).



Dividend

Massmart's current dividend policy is to declare and pay an interim and final cash dividend representing a 2.0 times dividend cover unless circumstances dictate otherwise. Notice is hereby given that a gross interim cash dividend of 76.00 cents per share, in respect of the period ended 25 June 2017 has been declared.



Company prospects

For the 34 weeks to 20 August 2017, total sales amounted to R56.2 billion, representing an increase of 1.0% over the prior period. Comparable store sales decreased by 0.9%. Product inflation is estimated at 2.7%.



Continued high levels of economic volatility and political uncertainty complicate any useful outlook, however it is likely that sales growth may improve slightly in the second half of 2017 compared to the first half. This improvement comes from a combination of lower inflation, a steady Rand, lower interest rates in South Africa, and higher reported Rand sales from our ex-SA stores following the recent annualisation of the extreme weakness of several African currencies. Shareholders are reminded that the financial year to December 2017 is a 53-week trading period.
17-Jul-2017
(Official Notice)
Massmart?s total sales for the 26 weeks to 25 June 2017 amounted to R42.5 billion, representing an increase of 0.5% over the prior year 26-week period. Comparable store sales decreased by 1.6%. Product inflation is estimated at 3.2%.



Massmart has commented previously on the marked differences in the performances of Food and non- Food categories across South Africa and in most parts of sub-Saharan Africa, caused by weak consumer spending, especially on discretionary items, and low consumer confidence. Consequently at a Group level, our total sales growth in Food (being food and liquor) is 3.0% and in non-Food (being general merchandise, home improvement and cellular) is -2.9%.



Total (and comparable) sales growths for each Division for the 26-week period, and product inflation rates, were as follows:

- Massdiscounters decreased by 1.4% (-3.5% comparable) with inflation of -0.3%

- Masswarehouse increased by 4.0% (1.5% comparable) with inflation of 3.9%

- Massbuild had 0.0% total growth (-0.2% comparable) with inflation of 4.7%

- Masscash decreased by 1.0% (-3.3% comparable) with inflation of 4.0%



Total and comparable sales growths from our South African (SA) stores were 1.7% and -0.2% respectively. There were positive comparable sales growths in Game SA, Masswarehouse and Massbuild SA. Total and comparable sales growths from our ex-SA stores? measured in the local African currencies were positive, while in Rands these were -11.9% and -14.1% respectively. Massmart?s financial results for the 26 weeks to 25 June 2017 will be released on the Stock Exchange News Service of the JSE Ltd. on 24 August 2017.
04-Jul-2017
(Official Notice)
In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised that Mr Chris Seabrooke will retire from the Massmart Board of Directors (the ?Board?) as an independent non-executive director, the Deputy Chairman, Chairman of the Remuneration Committee and member of the Nomination Committee with effect from 31 December 2017.



Mr Seabrooke was appointed to the Board on 01 February 2000 and during his tenure as a non-executive director held positions as the Chairman of the Board, the Chairman and member of the Audit Committee; Chairman and member of the Risk Committee. Mr Seabrooke?s experience and contribution to Board and Committee discussions and debates ranging from finance, accounting and corporate governance and his broad business experience made him a valuable member of the Board. The Board, Massmart Executive Committee and management would like to thank Mr Seabrooke for his significant contribution to the Massmart business over the past 17 years.



The Board has commenced its search for a replacement non-executive director and will notify shareholders once a suitable candidate has been appointed.
26-May-2017
(Official Notice)
The Massmart board of directors (?the Board?) announced the resignation of Mr JP Suarez as a non-executive director of the Company with effect from 26 May 2017. Mr Suarez was appointed to the Board on 20 June 2011 as one of the three Walmart-appointees to the Board. With his extensive international retail experience, Mr Suarez was a key member of the Board, and Massmart is indebted to his business insights and invaluable contributions he brought to the Board?s debates and deliberations.



The Board announced the appointment of Ms Susan Muigai as a non-executive director of the Company with effect from 26 May 2017. Ms Muigai is a Walmart appointed nominee and she will also serve as a member of the Company?s Social and Ethics Committee.



The Board announced the appointment of Mr Roger Burnley as a non-executive director of the Company with effect from 26 May 2017. Mr Burnley is a Walmart appointed nominee and he is currently the Chief Operating Officer and Deputy Chief Executive Officer of Asda Walmart in the United Kingdom (UK).
25-May-2017
(Official Notice)
Shareholders are advised that at the Massmart annual general meeting held on Thursday, 25 May 2017 at 09h00 (?Annual General Meeting?), the shareholders passed all the ordinary and special resolutions, as set out in the notice of annual general meeting dated 31 March 2017, by the requisite majority of votes of shareholders present in person or represented by proxy.



The total number of shares present/represented, including proxies, at the annual general meeting was 91.82% of Massmart?s issued share capital as at Friday, 19 May 2017, being the voting record date.

19-Apr-2017
(Official Notice)
Massmart shareholders are advised that the integrated annual report of the company for the year ended December 2016 (?Integrated Annual Report?), which incorporates the audited summary consolidated annual financial statements and the notice of the annual general meeting, has been distributed to Massmart shareholders today, 19 April 2017. The integrated annual report and the full set of the audited consolidated group annual financial statements are also available on Massmart?s website (www.massmart.co.za).



The audited consolidated group annual financial statements contain no changes to the reviewed consolidated results for the 52 weeks ended 25 December 2016 released on the Stock Exchange News Service on 23 February 2017. The annual financial statements are audited by Ernst - Young Inc. whose unmodified report is available for inspection at the registered office of the Company.



Notice is hereby given that the annual general meeting of holders of all classes of shares of the company will be held on Thursday, 25 May 2017 at 09h00 at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton.



The board of directors of the company has determined, in accordance with section 59 of the Companies Act 71 of 2008, as amended, that the respective record dates for shareholders to be recorded as shareholders in the securities register of the company in order to: (i) be entitled to receive the notice of annual general meeting is Friday, 7 April 2017, and (ii) be entitled to attend, participate and vote at the Annual General Meeting is Friday, 19 May 2017. The last date to trade to be entitled to attend, participate and vote at the annual general meeting is Tuesday, 16 May 2017.

24-Feb-2017
(Official Notice)
23-Feb-2017
(C)
Revenue for the year increased by 7.9% to R91.6 billion(2015: R84.9 billion) and gross profit was 7.8% higher at R17.3 billion (2015: R16.0 billion). Operating profit before interest rose by 15.5% to R2.5 billion (2015: R2.2 billion). Profit attributable to owners of the parent was 17.6% higher at 1.3 billion (2015: R1.1 billion). Furthermore, headline earnings per share was 597.8 cents per share (2015: 516.3 cents per share).



Dividend

Notice is hereby given that a gross final cash dividend of 224.80 cents per share, in respect of the year ended December 2016 has been declared.



Prospects

For the 8 weeks to 19 February 2017, total sales increased by 0.6% and comparable sales decreased by 1.5%. South African total and comparable sales growths are 2.5% and 0.4% respectively, while the equivalents for ex-SA are both negative. Sales growth in January 2017 was negative but in February accelerated positively. It is likely that several key economic drivers in SA will improve in 2017 - lower food price inflation, some Rand strength and possibly lower interest rates. High levels of uncertainty and volatility complicate any economic guidance however. Despite the slow start to the financial year, we have a reasonable expectation of a satisfactory year ahead.











16-Jan-2017
(Official Notice)
Massmart?s total sales for the 52 weeks to 25 December 2016 increased to R91.2 billion, representing a growth of 7.7% over the prior year 52-week period. Comparable store sales increased by 5.4%. Product inflation is estimated at 6.7%.



As a general remark on recent trends, there was a slight pick-up in South African sales growth but a continued decline in non-South African sales growth. Total (and comparable) sales growths for each Division for the 52-week period, and product inflation rates, were as follows:

- Massdiscounters increased by 5.3% (1.5% comparable) with inflation of 4.8%;

- Masswarehouse increased by 11.0% (7.6% comparable) with inflation of 6.5%;

- Massbuild increased by 5.6% (1.7% comparable) with inflation of 4.7%;

- Masscash increased by 7.5% (7.9% comparable) with inflation of 9.3%.



Massmart?s audited financial results for the 52 weeks to 25 December 2016 will be released on the Stock Exchange News Service of the JSE on 23 February 2017.
08-Nov-2016
(Official Notice)
Massmart is hosting analysts` store visits in the greater Johannesburg region and is providing a sales update which is shown below. Massmart?s total sales for the 44 weeks to 30 October 2016 increased to R73.2 billion, representing growth of 7.6% over the prior year 44-week period. Comparable stores? sales increased by 5.3%. Product inflation is estimated at 6.4%.



Total and comparable sales growths for each Division for the 44-week period were as follows:

- Massdiscounters increased by 4.6% (0.5% comparable);

- Masswarehouse increased by 10.7% (7.5% comparable);

- Massbuild increased by 5.7% (1.1% comparable); and

- Masscash increased by 7.9% (8.5% comparable).



Sales growths have declined, reflective of the tough trading conditions in South Africa and, more recently, in most African countries where we have stores. Although slowing marginally Food and Liquor sales continued to perform well and Massbuild is showing signs of a sales recovery. General Merchandise sales remain compromised by low consumer confidence, drought-affected food inflation and higher-priced imported products. A short presentation made by management is available on the Massmart website (www.massmart.co.za).
26-Aug-2016
(Media Comment)
According to Business Day Massmart intends to increase the number of Game stores offering freash produce, food, and liquor in the next few years. The listed retailer said it would prioritise expansion into food retail and fresh categories through new stores.
25-Aug-2016
(C)
Revenue went up 8.9% to R42.5 billion (R39.0 billion) whereas gross profit grew 10.9% to R8.2 billion (R7.4 billion). Operating profit before interest was 19.5% higher at R819.1 million (R685.2 million). Profit attributable to owners rose 26.5% to R356.3 million (R281.6 million). In addition, headline earnings per share jumped 19.3% to 148.2 cents per share (124.2 cents per share).



Dividend

Massmart's current dividend policy is to declare and pay an interim and final cash dividend representing a 2.0 times dividend cover unless circumstances dictate otherwise. Notice is hereby given that a gross interim cash dividend of 74.10 cents per share, in respect of the period ended 26 June 2016 has been declared. The number of shares in issue at the date of this declaration is 217 136 334.



Prospects

For the 34 weeks to 21 August 2016, total sales increased by 8.3% and comparable sales increased by 5.9%. For the remainder of 2016, the South African economic environment will likely continue to constrain consumer spending across key Group categories including General Merchandise and Home Improvement/DIY, whilst its substantial Food and Liquor categories will likely continue to outperform. Notwithstanding the current uncertainty, should the currency strengthen and Food pricing move into disinflation, it is possible that trading in 2017 may be relatively better than 2016. Trading conditions in most non-SA countries where we have stores are unlikely to deteriorate further provided there are no exogenous shocks.
15-Aug-2016
(Official Notice)
The results for the 26 week period to June 2016 are favourably affected by an insurance gain arising from the excess of the insured replacement value over the net book value of the assets destroyed by the fire at the Jumbo Crown Mines store in February 2016.



For this reason, Profit Before Interest and Tax (?PBIT?) before and after recording this insurance gain is shown below, and in terms of the Listings Requirements the Headline Earnings and Headline Earnings per Share (?HEPS?) figures specifically exclude any capital gains or losses.



Currency movements across Africa remained volatile and mostly negative and so the likely net foreign exchange loss is slightly higher than that reported for the comparable 2015 period. Despite this, an improved effective tax rate results in the growth in Headline Earnings and HEPS being ahead of growth in PBIT excluding the insurance gain.



Massmart therefore expects the following interim results for the 26 weeks ended 26 June 2016 (2015: 26 weeks): Expected ranges - June 2016 ; Expected % change

*PBIT- Excluding insurance gain (Rm): 742.8 - 794.1; 8.4% - 15.9%

*Headline earnings (Rm): 303.8 - 324.8 ; 12.8% - 20.6%

*HEPS (Cents) : 140.2 - 149.9 ; 12.9% - 20.7%



*PBIT- including insurance gain (Rm): 782.5 - 836.6 ; 14.2% - 22.1%

*Earnings (Rm): 340.2 - 363.8 ; 20.8% - 29.2%

*Basic EPS (Cents): 157.0 - 167.8 ; 20.9% - 29.2%



The above information has not been reviewed and reported on by the company?s external auditors.



19-Jul-2016
(Official Notice)
Shareholders are advised that Massmart?s total sales for the 26 weeks to 26 June 2016 increased to R42.3 billion, representing growth of 8.7% over the prior year 26 week period, with annual product inflation estimated at 5.8%. Comparable store sales increased by 6.4%.



Total (and comparable) sales growth for each Division for the 26-week period, and product inflation rates, were:

- Massdiscounters increased by 7.6% (2.4% comparable) with inflation of 4.4%;

- Masswarehouse increased by 9.2% (7.2% comparable) with inflation of 5.5%;

- Massbuild increased by 5.8% (0.8% comparable) with inflation of 4.0%; and

- Masscash increased by 10.3% (10.9% comparable) with inflation of 7.9%.



The sales trends commented upon in the Massmart sales update for the 21 weeks to 22 May 2016 remain prevalent, although sales growths in the five-week period since that update were adversely impacted by further weakness in certain African countries? currencies and disruption to trading during the recent unrest in Tshwane. The former impacted Game and Massbuild, whilst both factors impacted Masscash.



Massmart`s reviewed preliminary financial results for the 26 weeks to 26 June 2016 will be released on the Stock Exchange News Service of the JSE Ltd. on 25 August 2016.
07-Jul-2016
(Official Notice)
The board of directors of Massmart (Massmart Board or Board) advised shareholders that, with effect from 20 September 2016, Philip Sigsworth has resigned as company secretary. Philip has accepted a position with the Sam?s Club subsidiary of Massmart?s parent company, Wal-Mart Stores, Inc. From the date of Phillip?s resignation until on or about 1 November 2016, Julie Wilford, currently a Massmart Group Financial Executive, has been appointed to fill the company secretary position. Julie Wilford holds a CA (SA) qualification.
26-May-2016
(Official Notice)
Shareholders are advised that at the Massmart annual general meeting held on Thursday, 26 May 2016 at 09h00 (?Annual General Meeting?), the shareholders passed all the ordinary and special resolutions, as set out in the notice of Annual General Meeting dated 1 April 2016, by the requisite majority of votes of shareholders present in person or represented by proxy. The total number of shares present/represented, including proxies, at the Annual General Meeting was 196 360 101 or 89.26% of Massmart?s issued share capital as at Friday, 20 May 2016, being the Voting Record Date.
22-Apr-2016
(Official Notice)
Massmart shareholders are advised that the Integrated Annual Report of the company for the year ended December 2015 (?Integrated Annual Report?), which incorporates the audited summary consolidated Annual Financial Statements and the notice of the Annual General Meeting, has been distributed to Massmart shareholders today, 22 April 2016. The Integrated Annual Report and the full set of the audited consolidated Group Annual Financial Statements are also available on Massmart?s website (www.massmart.co.za).



The audited consolidated Group Annual Financial Statements contain no changes to the reviewed consolidated results for the 52 weeks ended 27 December 2015 released on the Stock Exchange News Service on 25 February 2016. The annual financial statements are audited by Ernst - Young Inc. whose unmodified report is available for inspection at the registered office of the company.



Notice is hereby given that the Annual General Meeting of holders of all classes of shares of the company will be held on Thursday, 26 May 2016 at 09h00 at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton.



The Board of Directors of the company has determined, in accordance with section 59 of the Companies Act 71 of 2008 as amended, that the respective record dates for shareholders to be recorded as shareholders in the securities register of the company in order to: (i) be entitled to receive the notice of annual general meeting is Friday, 15 April 2016, and (ii) be entitled to attend, participate and vote at the annual general meeting is Friday, 20 May 2016. The last date to trade to be entitled to attend, participate and vote at the Annual General Meeting is Friday, 13 May 2016.



25-Feb-2016
(C)
Revenue for the year increased by 8.3% to R84.857 billion (2014: R78.319 billion). Gross profit rose 10.2% to R16.042 billion (2014: R14.562 billion), profit attributable to owners of the parent grew by 3.1% to R1.113 billion (2014: R1.080 billion), while headline earnings per share was 1.3% higher at 516.3 cents per share (2014: 509.7 cents per share).



Dividend

In August 2015 we indicated to shareholders that we would likely be changing the Group's future dividend policy to levels similar to our SA retail peers. This adjustment to the Group's capital structure is necessary as a result of significant property acquisitions between 2012 and 2014 and our store growth into Africa which increasingly can entail investing in that real estate. With effect from this dividend cycle therefore, the Massmart dividend cover is amended to 2.00 x cover.



Notice is hereby given that a gross final cash dividend of 112.16 cents per share, in respect of the year ended December 2015 has been declared. The proposed dividend, when combined with the interim dividend of 146.00 cents, will result in cover of 2.00 x for the full year. The number of shares in issue at the date of this declaration is 217 136 334.



Prospects

For the 8 weeks to 21 February 2016, total sales increased by 8.9% and comparable sales increased by 6.9%. We are seeing exceptionally strong sales growth from our non-SA stores, and excluding these stores shows South Africa-only total and comparable sales growths of 6.9% and 6.0% respectively.



For 2016 and possibly 2017, the anticipated South African economic environment will constrain consumer spending across several key Group categories including General Merchandise and Home Improvement / DIY, whilst our substantial Food and Liquor categories may perform relatively better. There may be severe pricing pressure on lower-income households and we are resolved to keep our baskets affordable for those households.
14-Jan-2016
(Official Notice)
Shareholders are advised that Massmart?s total sales for the 52 weeks to 27 December 2015 increased to R84.7 billion, representing growth of 8.4% over the prior 52 week period, with annual product inflation estimated at 3.0%. Comparable store sales increased by 6.7%. Total (and comparable) sales growth for each Division for the 52-week period, and product inflation rates, were as follows:

- Massdiscounters increased by 8.7% (3.9% comparable) with inflation of 1.7%;

- Masswarehouse increased by 9.8% (9.8%) with inflation of 3.4%;

- Massbuild increased by 11.0% (7.4%) with inflation of 3.8%; and

- Masscash increased by 6.1% (5.8%) with inflation of 2.9%.



Massmart`s preliminary reviewed financial results for the 52 weeks to 27 December 2015 will be released on the Stock Exchange News Service of the JSE on 25 February 2016.
10-Nov-2015
(Official Notice)
Massmart is hosting analysts` store visits in the greater Johannesburg region and is providing the following sales update:



For the 45 weeks to 8 November 2015 versus the prior year?s 45-week period -

*Massmart?s total sales increased to R69.8 billion, representing growth of 8.7%, and comparable store sales increased by 7.0%. Product inflation for the period is estimated at 3.1%.

*Massdiscounters increased total sales by 9.2% (4.3% comparable) with inflation of 1.6%. Subsequent to June 2015, comparable sales growth in Game SA increased marginally whilst comparable sales in Game Africa slowed slightly.

*Masswarehouse increased total sales by 10.1% (10.1% comparable) with inflation of 3.5%.

*Massbuild increased total sales by 11.8% (8.4% comparable) with inflation of 4.2%.

*Masscash increased total sales by 6.0% (5.6% comparable) with inflation of 3.1%.



A short presentation made by management to the analysts is available on the Massmart website (www.massmart.co.za).



The above information has not been reviewed and reported on by the Company's external auditors.
28-Oct-2015
(Official Notice)
The Massmart board of directors (the board) regrets to announce the resignation of Mrs Shelley Broader as a non-executive director with effect from 9 November 2015. Shelley was one of three Walmart-appointees to the Board and today announced her resignation from Walmart.



Shelley was appointed to the Board in July 2014 and made an invaluable contribution to the Board?s debate and deliberations through sharing her extensive international retail experience and business insights.



The Board, Massmart Executive Committee and management would like to thank Shelley for her significant contribution to our business, and we extend her our best wishes in her future endeavours. A further announcement will be made when her replacement has been appointed.
02-Sep-2015
(Official Notice)
The Massmart board of directors is pleased to announce the appointment of Raboijane (Moses) Kgosana as an Independent Non-Executive Director with effect from 1 September 2015. Moses will also be a member of the Company?s Audit and Risk Committees.



27-Aug-2015
(C)
Revenue was higher at R39.0 billion (R35.8 billion), while operating profit before interest decreased to R685.2 million (R695 million). Profit attributable to owners of the parent was lower at R281.6 million (R350 million), while headline earnings per share amounted to 124.2cps (167.8cps).



Dividend

Notice is hereby given that a gross interim cash dividend of 146.0 cents per share, in respect of the period ended 28 June 2015, has been declared.



Prospects

For the 33 weeks to 16 August 2015, total sales increased by 8.7% and comparable sales increased by 6.8%. Whilst Massmart remain confident and resolute about delivering our strategic priorities, we are concerned that for the next 12-18 months the South African and most sub-Saharan consumer economies are unlikely to be supportive. In addition, Massmart's South African performance may be hampered by our relative exposure to General Merchandise in a tightening interest rate cycle.
19-Aug-2015
(Official Notice)
Shareholders are advised that Massmart expects the following interim results for the 26 weeks ended 28 June 2015 (2014: 26 weeks):



Expected (Jun 2015) - actual ranges (Jun 2014)

Rm

* Profit before interest and tax (?PBIT?) : 651.2 - 719.3 - 695.0

* PBIT before foreign exchange : 752.1 - 831.5 - 702.9

* Earnings : 267.4 - 295.8 - 350.0

* Headline earnings : 255.6 - 282.5 - 364.1

* Headline earnings before foreign exchange : 337.6 - 373.1 - 369.8



Cents

* Basic earnings per share : 123.2 - 136.3 - 161.3

* Headline earnings per share (?HEPS?) : 117.8 - 130.2 - 167.8

* HEPS before foreign exchange : 155.7 - 172.0 - 170.5



Greater detail will be provided with the release of Massmart?s reviewed interim financial results on 27 August 2015.
15-Jul-2015
(Official Notice)
For the 26 weeks to 28 June 2015, Massmart?s total sales increased to R38.9 billion, representing total growth of 9.0% over the prior comparable 26-week period, with estimated product inflation of 3.7%. Comparable store sales increased by 6.8%.



Total (and comparable) sales growth for each Division for the 26-week period, and the estimated product inflation rates, were as follows:

* Massdiscounters increased by 9.1% (4.1% comparable) with inflation of 2.1%;

* Masswarehouse increased by 10.9% (10.9% comparable) with inflation of 4.3%;

* Massbuild increased by 16.3% (10.6% comparable) with inflation of 5.1%; and

* Masscash increased by 4.8% (3.9% comparable) with inflation of 3.6%.



Massmart`s reviewed preliminary financial results for the 26 weeks to 28 June 2015 will be released on the Stock Exchange News Service of the JSE Limited on 27 August 2015.
11-Jun-2015
(Media Comment)
Business Day reports that Massmart will shift its focus form investing in small agriculture suppliers to investing in the small-scale manufacturing sector. Massmart plans to bring in eight new manufacturers in the coming year. As a condition of the takeover by US based parent company Walmart, Massmart committed to a R100 million supplier development fund. Massmart corporate affairs executive, Brian Leroni, said that the move was brought about by strong growth in its finished goods market. " Many of the suppliers... have been working with us for a long time. We have come to a point where we may have to invest less proportionately in agriculture and work with our more successful guys. We are also moving away from large umbrella capacity building so we can invest in point expertise areas," Mr Leroni said. Massmart will have spent R240 million supporting small and medium-sized enterprises and co-operatives and incorporating them into its value chain by the end of the first phase of its Massmart programme, targeting suppliers with a maximum turnover of R50 million.
27-May-2015
(Official Notice)
Shareholders are advised that at the Massmart annual general meeting held at 09h00 on Wednesday, 27 May 2015 (?Annual General Meeting?), the shareholders passed all the ordinary and special resolutions, as set out in the notice of Annual General Meeting dated 2 April 2015, by the requisite majority of votes of shareholders present in person or represented by proxy.



The total number of shares present/represented, including proxies, at the Annual General Meeting was 196,559,476 or 89.35% of Massmart?s issued share capital as at Friday, 22 May 2015, being the Voting Record Date.
27-May-2015
(Official Notice)
24-Apr-2015
(Official Notice)
Massmart shareholders are advised that the Integrated Annual Report of the Company for the year ended December 2014 (?Integrated Annual Report?), which incorporates the audited summarised consolidated annual financial statements and the notice of the annual general meeting, has been distributed to Massmart shareholders on 24 April 2015. The Integrated Annual Report and the full set of the audited Group annual financial statements are also available on Massmart?s website (www.massmart.co.za).



The audited Group annual financial statements contain no changes to the reviewed consolidated results for the 52 weeks ended 28 December 2014 released on SENS on 26 February 2015. The annual financial statements are audited by Ernst - Young Inc. whose unmodified report is available for inspection at the registered office of the Company.



Notice is hereby given that the annual general meeting of the Company will be held at 09h00 on Wednesday, 27 May 2015, at the registered office of the Company, Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton.



The Board of Directors of the Company has determined, in accordance with section 59 of the Companies Act, 71 of 2008, as amended, that the respective record dates for shareholders to be recorded as shareholders in the securities register of the Company in order to: (i) be entitled to receive the notice of annual general meeting is Friday, 17 April 2015, and (ii) be entitled to attend, participate and vote at the annual general meeting is Friday, 22 May 2015. The last date to trade to be entitled to attend, participate and vote at the annual general meeting is Friday, 15 May 2015.
24-Apr-2015
(Official Notice)
Included in the Massmart December 2014 Integrated Annual Report, to be released on Massmart`s website and distributed to shareholders, are the following paragraphs: "For the 13 weeks to 29 March 2015, total sales increased by 9.5% and comparable sales increased by 7.4%. Recent sales trends were adversely affected by the 21 March public holiday falling on a Saturday this year, rather than the Friday as was the case in the prior year. Allowing for this, the level of sales growth is similar to that seen in the latter part of 2014, and so may be indicative of future sales levels for the short-term. "We remain concerned however, by the relatively fragile South African consumer economy and we are cautious about the impact of lower oil prices on those larger African countries with some dependency on oil revenues. Regardless, we remain focused on our strategic priorities to improve sustainably Group profitability and to grow in our core businesses and markets."
12-Mar-2015
(Official Notice)
Following the August 2014 announcement of the intended resignation of Ilan Zwarenstein from his role as Massmart Finance Director, the Massmart board is pleased to announce the appointment of Johannes (Hans) van Lierop as Chief Financial Officer (CFO) of Massmart with effect from 12 March 2015.



Hans will report to Massmart CEO, Guy Hayward.



The board is very pleased to have appointed a candidate of Hans? calibre and is confident that his international business exposure and experience in FMCG and in Africa will add considerable value to Massmart.



Ilan Zwarenstein accordingly resigns as Massmart Finance Director.
26-Feb-2015
(C)
Revenue increased to R78.3 billion (R72.5 billion), gross profit was higher at R14.6 billion (R13.3 billion). Operating profit before interest came in lower at R2 billion (R2.2 billion). Profit attributable to owners decreased to R1.1 billion (R1.3 billion). In addition, headline earnings per share decreased to 509.7 cents per share (615.2 cents per share).



Dividend

Notice is hereby given that a gross final cash dividend of 275.00 cents per share, in respect of the year ended 28 December 2014, has been declared.



Prospects

For the 8 weeks to 22 February 2015, total sales increased by 10.0% and comparable sales increased by 7.9%. This level of sales growth is similar to that seen in the latter part of 2014 and so may be indicative of future sales levels for the short-term.



Massmart remain concerned by the relatively fragile South African consumer economy and we are cautious about the impact of lower oil prices on those larger African countries with some dependency on oil revenues. The financial information on which this outlook statement is based has not been reviewed or reported on by the Company's external auditors.
14-Jan-2015
(Official Notice)
For the 52 weeks to 28 December 2014, Massmart?s total sales increased to R78.2 billion, representing total growth of 10.4% over the prior 52 week period, with product inflation estimated at 4.8%.



Comparable store sales increased by 7.5%.



Comparing this year`s 52 weeks to last year`s reported 53 weeks shows total sales growth of 8.2%.



Total (and comparable) sales growth for each Division for the 52-week period compared to the prior year?s 52-week period, and the product inflation rates, were as follows:

* Massdiscounters increased by 10.2% (4.8% comparable) with inflation of 3.1%;

* Masswarehouse increased by 11.9% (10.7% comparable) with inflation of 5.5%;

* Massbuild increased by 14.6% (9.1% comparable) with inflation of 5.9%; and

* Masscash increased by 8.0% (6.3% comparable) with inflation of 4.8%.



Massmart`s reviewed financial results for the 52 weeks to 28 December 2014 will be released on the Stock Exchange News Service of the JSE Ltd. on 26 February 2015.
11-Nov-2014
(Official Notice)
Sales Update for the 44 weeks to 2 November 2014



Today Massmart is hosting analysts' store visits in the greater Johannesburg region and is providing the following sales update:



*For the 44 weeks to 2 November 2014, Massmart's total sales increased to R62.5 billion, representing growth of 10.4% over the prior 44-week period, and comparable store sales increased by 7.3%. Product inflation for the period is estimated at 4.9%.



*For the same period, Massdiscounters increased total sales by 8.9% (4.1% comparable) with inflation of 3.4%. Total and comparable sales growths in Game SA increased marginally from that reported for the 26-week period ended 29 June 2014 whilst Game Africa slowed slightly.



*Masswarehouse increased total sales by 11.5% (10.3% comparable) with inflation of 5.4%. Total sales growth slowed as the stores opened in 2013 annualised. These stores are now included in comparable sales.



*Massbuild increased total sales by 14.7% (8.9% comparable) with inflation of 5.9%.



*Masscash increased total sales by 8.9% (6.4% comparable) with inflation of 4.9%. Subsequent to the 26-week period ended 29 June 2014, sales growth in Wholesale, both SA and Africa, slowed slightly, whilst picking up in Retail.



The above information has not been reviewed and reported on by the Company's external auditors.

28-Aug-2014
(C)
Revenue was higher at R35.8 billion (R32.5 billion), while operating profit before interest decreased to R695 million (R864.1 million). Profit attributable to owners of the parent was lower at R350 million (R481.5 million), and headline earnings per share amounted 167.8cps (225.2cps).



Dividend

Massmart has maintained the dividend at the same level as the prior comparable period. Notice is hereby given that a gross final cash dividend of 146cps, in respect of the period ended 29 June 2014, has been declared.



Strategic priorities

Our areas of strategic focus remain unchanged. Improving the profitability of the core business over the medium-term is a priority and we are making good progress in this regard. Expanding into Food Retail and Fresh in our existing formats continues apace. Expansion into Africa remains a priority and in the next two years we anticipate opening 13 new stores representing African space growth of about 50%. We continue to expand and improve our ecommerce offerings and are gaining invaluable insights from our colleagues in Asda and Walmart eCommerce. Finally, we will focus on selectively owning more of our current and future stores, will rationalise stores in certain over-traded markets, and will continue to invest in product quality and safety.



Sales update and prospects

For the 34 weeks to 24 August 2014, total sales increased by 10.0% and comparable sales increased by 7.1%. Given the difficult consumer environment it seems likely that these sales trends will continue for the remainder of 2014 and so we remain focused on offering our customers exceptional value and innovation. We expect that the results for the full-year will be affected by the ongoing weak economic environment as experienced in the interim reporting period. The financial information on which this outlook statement is based has not been reviewed or reported on by the Company's external auditors.



20-Aug-2014
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (Basic EPS) and headline earnings per share (HEPS) for the 26 weeks to 29 June 2014 within the ranges shown in the table below.



Headline earnings and HEPS excluding foreign exchange movements are also shown in the table below.

Expected Ranges June 2014:

Rm

Earnings: 331.6 - 371.9

Headline earnings: 345.7 - 386.1

Headline earnings before foreign exchange: 351.1 - 392.2



Cents

Basic EPS:152.9 - 171.4

HEPS:159.4 - 178.0

HEPS before foreign exchange:161.8 - 180.8



Greater detail will be provided with the release of Massmart's reviewed interim financial results on 28 August 2014. The above information has not been reviewed or reported on by the company's external auditors.

16-Jul-2014
(Official Notice)
On 10 December 2013 Wal-Mart Stores Inc announced the promotion of David Cheesewright to President and Chief Executive Officer ("CEO") of Walmart International. The promotion of Shelley Broader to succeed him as President and CEO of Walmart EMEA was announced on 30 May 2014.



Subsequent to these changes, shareholders are advised that David has resigned from the Board of directors of Massmart and Shelley has been appointed in his place. In addition, Jeff Davis has resigned and in his place Andy Clarke has been appointed to the Board. The appointment of Shelley and Andy and the resignation of David and Jeff are all effective 16 July 2014.
10-Jul-2014
(Official Notice)
For the 26 weeks to 29 June 2014, Massmart's total sales increased to R35.7 billion, representing growth of 10.2% over the prior 26-week period, with product inflation estimated at 4.8%. Comparable store sales increased by 7.1% over the same period.



Total (and comparable) sales growths for each Division for the 26-week period, and the product inflation rates, were as follows:

* Massdiscounters increased by 8.0% (4.0% comparable) with inflation of 3.1%;

* Masswarehouse increased by 12.3% (9.4% comparable) with inflation of 5.5%;

* Massbuild increased by 14.5% (8.8% comparable) with inflation of 5.3%; and

* Masscash increased by 8.6% (6.8% comparable) with inflation of 5.0%.



Massmart's reviewed preliminary financial results for the 26 weeks to 29 June 2014 will be released on the Stock Exchange News Service of the JSE Ltd. on 28 August 2014.
30-May-2014
(Official Notice)
Shareholders are advised that at the Massmart Annual General Meeting held at 09h00 on Friday, 30 May 2014, the shareholders passed all the ordinary and special resolutions, as set out in the notice of Annual General Meeting dated 10 April 2014.
26-May-2014
(Media Comment)
According to Business Report, Massmart has given Lethabo Milling, a black-owned company, a maize meal contract where the product will be sold through Makro and Masscach stores. The deal states that Lethabo will initally deliver about 10 000 tonnes of maize meal to Massmart, a portion of which will be sold at Makro stores as Lethabo super maize meal and the remainder sold as Econo-maize meal, Massmart's private label brand, through Jumbo Cash and Carry and Shield stores. Mncane Mthunzi, Massmart supplier development executive confirmed that the product would be at Makro stores by the end of July.
30-Apr-2014
(Media Comment)
Business Day reported that though commentators forecast a difficult South African consumer economy this year, retailer Massmart said in its annual report that sales rose 11.4% for the 14 weeks to 6 April 2014. This is a much stronger start to the financial year than the group expected. Along with opening distribution centres that leverage supply chain and improve stock levels, the company has installed common IT platforms and is working on improving in-store shopping.
29-Apr-2014
(Official Notice)
Included in the Massmart December 2013 Integrated Annual Report, to be released on Massmart's website and distributed to shareholders today, are the following paragraphs: For the 14 weeks to 6 April 2014, total sales increased by 11.4% and comparable sales increased by 7.1%, a much stronger start to the financial year than we anticipated. Whilst too early to be confident about this new trend, the strong start suggests a better overall performance this year than last year. Whilst Massmart remains cautious about the economy, they are much more positive about the business as they reap the rewards from the operational focus of last year.
29-Apr-2014
(Official Notice)
Massmart shareholders are advised that the Integrated Annual Report of the Company for the 53 weeks ended 29 December 2013, which incorporates the abridged audited annual financial statements and the notice of the annual general meeting, has been distributed to Massmart shareholders on 29 April 2014. The Integrated Annual Report and the full set of audited annual financial statements are also available on Massmart's website (www.massmart.co.za). The audited annual financial statements contain no changes or modifications to the reviewed consolidated results for the 53 weeks ended 29 December 2013 released on SENS on 27 February 2014.



AGM notice

Notice was given that the annual general meeting of the Company will be held at 09h00 on Friday, 30 May 2014, at the registered office of the Company, Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton. The Board of Directors of the Company ("the Board") has determined, in accordance with section 59 of the Companies Act, 71 of 2008, as amended, that the respective record dates for shareholders to be recorded as shareholders in the securities register of the Company in order to: (i) be entitled to receive the notice of annual general meeting is Thursday, 17 April 2014, and (ii) be entitled to attend, participate and vote at the annual general meeting is Friday, 23 May 2014. The last date to trade to be entitled to attend, participate and vote at the annual general meeting is Friday, 16 May 2014.



Clarification of board changes

In the SENS announcement of 11 April 2014, shareholders were advised that Grant Pattison would step down as Chief Executive Officer on 1 June 2014, continue as a non- executive director until 31 December 2014 and then resign from the Board. The Company wished to amend this notification. After stepping down as CEO, Grant will continue as a director until 31 December 2014 in terms of his employment contract with the Company. He will not be a non-executive director as defined in and contemplated by the King Report on Governance for South Africa.
11-Apr-2014
(Official Notice)
Shareholders are advised that pursuant to his desire to devote himself fully to his new role as CEO of Imperial Holdings Ltd., Mr Mark Lamberti has resigned as Chairman and a director of the company, effective 10 April 2014.



CEO of Massmart

Shareholders are advised that Mr Grant Pattison has tendered his resignation as CEO with effect from 1 June 2014.
27-Feb-2014
(C)
The following results are the first full 12 months results after the group's year end change and therefore are incomparable to the previous period. Revenue was R72.5 billion and gross profit was recorded as R13.3 billion. Operating profit came in at R2.2 billion. Profit attributable to owners was R1.3 billion. In addition, headline earnings per share were 615.2 cents per share.



Distribution and dividend policy

Massmart's dividend policy is to declare and pay an interim and final cash dividend representing a 1.55 times dividend cover unless circumstances dictate otherwise. There were no STC credits available for use as part of this declaration. The number of shares in issue at the date of this declaration is 217 109 044.



Notice is hereby given that a gross final cash dividend of 275.00 cents per share in respect of the period ended 29 December 2013 has been declared.



Prospects

For the 8 weeks to 23 February 2014, total sales increased by 9.5% and comparable sales increased by 7.7%, a much stronger start to the financial year than we anticipated.



Whilst too early to be confident about this new trend, the strong start suggests a better overall performance this year than last year. Whilst Massmart remains cautious about the economy, the group is much more positive about the business as it reap the rewards from the operational focus of last year.
19-Feb-2014
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (Basic EPS) and headline earnings per share (HEPS) for the 53 weeks to 29 December 2013 within the ranges shown in the table below



Headline earnings and HEPS excluding foreign exchange are also shown in the table.

Expected Ranges 53 weeks to December 2013 , Actual 52 weeks to December 2012 and Expected % Change



Rm's

Earnings -- 1 230.0 - 1 327.2; 972.3; 26.5% - 36.5%

Headline earnings -- 1 288.9 - 1 391.6; 1 027.0; 25.5% - 35.5%

Headline earnings before foreign exchange -- 1 229.6 - 1 349.0; 1 193.8; 3.0% - 13.0%



Cents;

Basic EPS -- 569.0 - 614.0; 449.8; 26.5% - 36.5%

HEPS -- 596.4 - 643.9; 475.2; 25.5% - 35.5%

HEPS before foreign exchange -- 568.9 - 624.1; 552.3; 3.0% - 13.0%



Greater detail will be provided with the release of Massmart's reviewed preliminary financial results for the 53 weeks ended 29 December 2013 on 27 February 2014.
15-Jan-2014
(Official Notice)
For the 53 weeks to 29 December 2013, Massmart's total sales increased to R72.2 billion, representing total growth of 9.7% on the 52 weeks to 23 December 2012, with product inflation estimated at 2.7%.



Comparing this year's 52-week period to the 2012 52-week period shows total growth of 7.5% and comparable store sales growth of 3.8%.



Total sales growth for each division for the 53-week period (and comparable store sales growth for the 52-week period shown in brackets), and the product inflation rates were as follows:

* Massdiscounters increased by 8.6% (1.0% comparable) with inflation of 0.5%;

* Masswarehouse increased by 14.1% (4.0% comparable) with inflation of 2.1%;

* Massbuild increased by 11.9% (8.2% comparable) with inflation of 4.1%; and

* Masscash increased by 6.5% (3.8% comparable) with inflation of 4.2%.



The estimated net sales lost due to closing the group's stores on 15 December 2013 in honour of the late President Nelson Mandela's burial were approximately R200 million. These closures affected group total and comparable store sales growth for the 52-week period by approximately 0.3% each. Sales in Massdiscounters were most affected by these closures, while Masscash was least affected.
28-Nov-2013
(Media Comment)
According to Business Report, Massmart plans to increase competition in the lower-end segment of the building material and hardware market as it unveils its new Builders Superstore Outlets. Massmart said it will first open 10 pilot stores in Gauteng before beginning a large national roll-out.
14-Nov-2013
(Official Notice)
Massmart is hosting an analysts' store visit in the greater Johannesburg region and is providing the following brief sales update: For the 46 weeks to 10 November 2013, Massmart's total sales increased to R59.7 billion, representing growth of 8.3% over the prior comparable 46-week period, and comparable store sales increased by 4.3%. Product inflation for the period is estimated at 2.9%.



Total (and comparable) sales growths for each Division for the 46-week period, and the product inflation rates, were as follows:

* Massdiscounters increased by 7.9% (2.5% comparable) with inflation of 0.5%;

* Masswarehouse increased by 14.0% (4.8% comparable) with inflation of 2.3%;

* Massbuild increased by 9.9% (8.5% comparable) with inflation of 4.1%; and

* Masscash increased by 4.1% (3.5% comparable) with inflation of 4.5%.
24-Oct-2013
(Media Comment)
Business Day reported that Massmart has opened three George pop-up stores to test the local market and build brand awareness. George is a British brand that is the fashion division of Asda, (Massmart's parent) Walmart's British subsidiary. Massmart CEO Grant Pattison commented that being in the Walmart family meant that Massmart could try new things with lower risk exposure.
22-Aug-2013
(C)
Massmart had a change in year end from June to December from 2012 onwards, therefore there no comparitives for this interim period. Revenue was recorded at R32.5 billion, while operating profit came in at R864.1 million. Profit attributable to owners was at R481.5 million, and headline earnings per share amounted 225.2cps.



Dividend

Notice is hereby given that a gross interim cash dividend of 146ccps in respect of the period ended 23 June 2013 has been declared.



Prospects

For the 34 weeks to 18 August 2013, total sales increased by 9.2% and comparable sales increased by 5.3%, continuing the trends experienced towards the close of the financial period. We believe that the remainder of the year will continue to see sales under pressure, with the potential upside being the annualising of the slowdown which started in September 2012. Any improvement in earnings in the short term will be dependent on our ability to reduce costs. Any market share gains will be as a result of superior retail offerings. The financial information on which this outlook statement is based has not been reviewed or reported on by the Company's external auditors. Shareholders' attention is drawn to the fact that the full financial year will be a 53-week period.
13-Aug-2013
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share ("Basic EPS") and headline earnings per share ("HEPS") for the 26 weeks to 23 June 2013 within the ranges shown below.



Expected Ranges June 2013 - expected change;

* Basic EPS: 216 - 230.3 - 66.2% - 77.2% higher

* HEPS: 218 - 234.3 - 46.4% - 57.4% higher



Greater detail will be provided with the release of Massmart's reviewed preliminary financial results for the 26 weeks ended 23 June 2013 on 22 August 2013.
09-Jul-2013
(Official Notice)
Shareholders were advised that the Massmart's total sales for the 26 weeks to 23 June 2013 increased to R32.3 billion, representing growth of 8.9% over the prior comparable 26-week period, with annual product inflation estimated at 2.9%. Comparable store sales increased by 5.5%.



Total (and comparable) sales growths for each Division for the 26-week period, and the product inflation rates, were as follows:

* Massdiscounters increased by 9.0% (3.7% comparable) with inflation of 0.5%;

* Masswarehouse increased by 13.6% (6.9% comparable) with inflation of 2.6%;

* Massbuild increased by 9.0% (9.0% comparable) with inflation of 3.1%; and

* Masscash increased by 5.5% (4.2% comparable) with inflation of 4.6%.



Massmart's reviewed preliminary financial results for the 26 weeks to 23 June 2013 will be released on 22 August 2013.
28-May-2013
(Official Notice)
Shareholders are advised that the following changes have been implemented with effect from 22 May 2013:

* The Audit and Risk Committee has been split into two committees. The lead independent director, Mr. C S Seabrooke, will chair both committees.

* The membership of the Audit Committee will be the same as the former combined committee as appointed by shareholders at the Annual General Meeting held on 22 May 2013.

* In addition to Mr Seabrooke, the following individuals will serve as members of the Risk Committee: two additional non-executive directors (Ms Phumzile Langeni and Dr Nolulamo Gwagwa); the Chief Operating Officer (Mr. GRC Hayward); the Financial Director (Mr. I Zwarenstein); the Head of Internal Audit; Group General Counsel; the Managing Director of one of the Group's divisions; the Financial Director of another of the Group's divisions and one Walmart representative.
22-May-2013
(Official Notice)
Shareholders are advised that at the Massmart AGM held at 09h00 on Wednesday, 22 May 2012, the requisite majority of shareholders passed all the ordinary and special resolutions, as set out in the notice of annual general meeting dated 8 April 2013. Shareholders holding 91.12% of the voting rights were represented at the annual general meeting.
22-Apr-2013
(Official Notice)
Included in the Massmart December 2012 integrated annual report, to be released on Massmart's website and distributed to shareholders, are the following paragraphs:



"For the 14 weeks to 31 March 2013, total sales increased by 10.3% and comparable sales increased by 6.0%, continuing the slower sales trends experienced towards the close of the financial year.



"The South African consumer environment remains difficult and sales growth may be under some pressure for the remainder of the financial year. If the current sales trends continue, it will be difficult to meet our objective which is to achieve trading profit growth (excluding foreign exchange movements and Walmart transaction costs) equal to sales growth.



"Value extracted from integration will be invested in price"
22-Apr-2013
(Official Notice)
Massmart shareholders were advised that the Integrated Annual Report of the company for the 26 weeks ended 23 December 2012, which incorporates the abridged audited annual financial statements and the notice of the annual general meeting, has been distributed to Massmart shareholders on 22 April 2013. The Integrated Annual Report, which incorporates the full set of audited annual financial statements, is also available on Massmart's website (www.massmart.co.za).



The audited annual financial statements contain no changes or modifications to the reviewed consolidated results for the 26 weeks ended 23 December 2012 released on SENS on 28 February 2013. The annual financial statements are audited by Ernst and Young Inc. whose unmodified report is available for inspection at the registered office of the company. Notice was given that the annual general meeting of the company will be held at 09h00 on Wednesday, 22 May 2013, at the registered office of the company, Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton.



The board of directors of the company has determined, in accordance with section 59 of the Companies Act, 71 of 2008, as amended, that the record date for shareholders to be recorded as shareholders in the securities register of the company in order to: (i) be entitled to receive the notice of annual general meeting is Friday, 12 April 2013, and (ii) be entitled to attend, participate and vote at the annual general meeting is Friday, 17 May 2013. The last date to trade to be entitled to attend, participate and vote at the annual general meeting is Friday, 10 May 2013.
04-Mar-2013
(Official Notice)
Shareholders are advised that the following changes have been implemented with effect from 4 March 2013:

* The Nomination and Remuneration Committee has been split into two committees. Mr M J Lamberti will chair the Nomination Committee and Mr C S Seabrooke will chair the Remuneration Committee. The membership of the committees will be the same as that of the former combined committee.

* Mr M J Lamberti has been appointed a member of the Audit and Risk Committee. This appointment will be put to shareholders for approval at the Company's next Annual General Meeting.
28-Feb-2013
(C)
Massmart changes its year end to 31 December, therefore there are no comparable figures. Revenue came in at R36.2 billion. Gross profit was R6.6 billion, while profit attributable to owners of the parent was recorded as R691.8 million. Furthermore, headline earnings per share was 326cps.



Dividend

Notice was given that a gross final cash dividend of 275cps in respect of the period ended 23 December 2012, has been declared.



Prospects

For the eight weeks to 17 February 2013, total sales increased by 11.4% and comparable sales increased by 5.7%, continuing the trends experienced towards the close of the financial year. The South African consumer environment remains difficult and we are concerned that sales growth may be under some pressure for the remainder of the financial year. It is our objective that if the current sales trends continue, growth in the Group's trading profit (excluding foreign exchange movements and Walmart costs) may equal sales growth.
18-Feb-2013
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (Basic EPS) and headline earnings per share (HEPS) for the 26 weeks to 23 December 2012 within the ranges shown in the table below. Headline earnings and HEPS excluding foreign exchange and the direct costs incurred by Massmart as a result of the Transaction are also shown in the table.



Cents

Basic EPS: expected range: 307.1 - 336.0 and expected % change: (26.0%) -(19.0%)

HEPS: expected range: 312.0 -341.0 and expected % change : (25.0%) -(18.0%)

HEPS before transaction costs and foreign exchange expected range: 410.4 - 438.3 and expected % change: 2.0% -9.0%



In the prior comparative period the Transaction costs primarily relate to integration costs. In the current year this includes integration costs and an increase of R140m in relation to the provision for the Supplier Development Fund following the Competition Appeal Court?s ruling that increased this fund to R240m. Greater detail will be provided with the release of Massmart?s December 2012 reviewed preliminary financial results on 28 February 2013. The above information has not been reviewed or reported on by the company's auditors.
10-Jan-2013
(Official Notice)
The Group's total sales for the 26 weeks ending on 23 December 2012 increased to R36.1 billion, representing growth of 14.6% over the prior 26-week period, with year-to-date sales inflation estimated at 3.7%. Comparable store sales increased by 7.3%.



Total and comparable sales growths (and year-to-date inflation) over this period in each Division respectively were:

* 7.7%, 2.6% (0.8% inflation) in Massdiscounters;

* 23.4%, 8.6% (3.4% inflation) in Masswarehouse;

* 10.0%, 9.7% (2.7% inflation) in Massbuild; and

* 15.0%, 8.6% (6.4% inflation) in Masscash.



Massmart's reviewed preliminary financial results for the 26 weeks to December 2012 will be released on 28 February 2013.
21-Nov-2012
(Official Notice)
Shareholders were advised that at the Massmart Annual General Meeting held at 13h00 on Wednesday, 21 November 2012, the requisite majority of shareholders passed all the ordinary and special resolutions, as set out in the notice of annual general meeting dated 5 October 2012.



Shareholders holding 89.46% of the voting rights were represented at the annual general meeting.



Special resolution number 3 relating to the adoption of Massmart's Memorandum of Incorporation together with a copy of the Memorandum of Incorporation will be submitted to the Companies and Intellectual Property Commission for filing.
21-Nov-2012
(Permanent)
Massmart will be changing its year end from June to December from 2012 onwards.
22-Oct-2012
(Official Notice)
Included in the Massmart June 2012 integrated annual report, to be released on Massmart's website and distributed to shareholders today, are the following paragraphs:



"For the 14 weeks to 30 September 2012, total stores' sales increased by 16.6% and comparable stores' sales increased by 7.8%, continuing the trends experienced at the close of the last financial period.



"With the coming change in Massmart's financial year-end, the next reporting period will be the 26-week "financial year" to December 2012. Sales and gross margins are expected to grow satisfactorily, although cost pressures will remain. Currently we expect no improvement in the group's net trading margin for either the 26-weeks to December 2012 or for the year to December 2013.



"Beyond the next 18 months, we believe the group is well positioned for strong growth, in both sales and profits."
22-Oct-2012
(Official Notice)
Massmart shareholders were advised that the Integrated Annual Report of the company for the 52 weeks ended 24 June 2012, which incorporates the audited annual financial statements and the notice of the annual general meeting, has been distributed to Massmart shareholders today, 22 October 2012. The Integrated Annual Report is also available on Massmart's website (www.massmart.co.za).



The audited annual financial statements contain no changes or modifications to the reviewed consolidated results for the 52 weeks ended 24 June 2012 released on SENS on 22 August 2012. The annual financial statements are audited by Deloitte - Touche whose unmodified report is available for inspection at the registered office of the company.



Notice was given that the annual general meeting of the company will be held at 13h00 on Wednesday, 21 November 2012, at the registered office of the company, Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton.



The board of directors of the company has determined, in accordance with section 59 of the Companies Act, 71 of 2008, as amended, that the record date for shareholders to be recorded as shareholders in the securities register of the company in order to: (i) be entitled to receive the notice of annual general meeting is Friday, 12 October 2012, and (ii) be entitled to attend, participate and vote at the annual general meeting is Friday, 16 November 2012. The last date to trade to be entitled to attend, participate and vote at the annual general meeting is Friday, 9 November 2012.
10-Oct-2012
(Media Comment)
Business Report highlighted that Massmart has welcomed a Competition Appeal Court ruling that it and merger partner Walmart must invest up to R200 million in supplier development fund over the next five years.Massmart said this was a positive endorsement of the initiative, as is the guidance provided by the CAC that the merged firm has flexibility, at its discretion, to invest up to R200 million over the next five years in identifying and assisting micro, small and medium suppliers that can benefit most from Massmart-Walmart's expertise.
22-Aug-2012
(C)
Revenue jumped by 15.6% to R61.4 billion (2011: R53.1 billion). Gross profit jumped by 16.4% to R11.3 billion (2011: R9.7 billion), operating profit shot up by 21% to R1.9 billion (2011: R1.6 billion), while profit attributable to owners of the parent was higher at R1.2 billion (2011: R838.7 million). Furthermore, headline earnings per share soared by 30% to 564.5cps (2011: 433.3cps).



Dividend

Notice was given that a gross final cash dividend of 146cps in respect of the period ended 24 June 2012 has been declared.



Prospects

For the eight weeks to 19 August 2012, total sales increased by 17.7% and comparable sales increased by 9.8%, continuing the trends experienced towards the close of the financial year. With the coming change in Massmart's financial year-end, the next reporting period will be the 26-week "financial year" to December 2012. Sales and gross margins are expected to grow satisfactorily, although cost pressures will remain. Currently we expect no improvement in net trading margin for either the 26 weeks to December 2012 or for the year to December 2013. Where value is extracted from Integration we will invest much of it in price.
07-Aug-2012
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (Basic EPS) and headline earnings per share (HEPS) for the 52 weeks to 24 June 2012 within the ranges shown in the table below.



Expected ranges for June 2012 - actual ranges for June 2011 (Rands in million)

* Earnings: 1 144.7 - 1 203.4 - 838.7

* Headline earnings: 1 186.2 - 1 247.9 - 881.9

* Headline earnings before Walmart costs and foreign exchange: 1 356.9 - 1 448.2 - 1 304.7



Cents

* Basic EPS: 530.1 - 558.9 - 412.1

* HEPS: 549.4 - 579.7 - 433.3

* HEPS before Walmart costs and foreign exchange: 641.4 - 679.9 - 641.4



The Walmart costs primarily relate to transaction costs incurred in the prior year and integration costs incurred in the current year. Greater detail will be provided with the release of Massmart's June 2012 reviewed preliminary financial results on 22 August 2012.
04-Jul-2012
(Official Notice)
Shareholders were advised that the Massmart's total sales for the 52 weeks to 24 June 2012 increased to R61.2 billion, representing growth of 15.5% over the prior 52-week period, with annual product inflation estimated at 1.8%. Comparable store sales increased by 9.6%.



Massmart's reviewed preliminary financial results for the 52 weeks to 24 June 2012 will be released on 22 August 2012.
08-May-2012
(Official Notice)
The Massmart board announced the appointment of a new financial director and changes to the roles of the existing executive directors. Guy Hayward, who has been chief financial officer since 2001, will assume the role of chief operating officer reporting to the chief executive officer, and will continue on the Massmart board. The group's operating divisions will report directly to him, as will shared services and employee benefits.



Ilan Zwarenstein, who has been group finance executive since 2006, will assume the role of financial director, and will be appointed to the board and the Massmart executive committee. He will relinquish the role of company secretary.



Grant Pattison, the group's chief executive officer, will focus on Massmart- Walmart's strategic growth priorities for South Africa and Africa, including the implementation of the group's retail food strategy. He will remain chairman of the Massmart executive committee and of all the divisional boards, and retains his other responsibilities including: legal, corporate affairs, internal audit, integration, supplier development, finance, and human capital.



Philip Sigsworth will temporarily assume the responsibilities of company Secretary for Massmart. These changes are required to enable greater operational focus on achieving the group's ambitious strategic plans, whilst at the same time responding to the additional responsibilities created by the acquisition of a controlling stake in Massmart by Walmart. They are effective from 7 May 2012.
08-May-2012
(Official Notice)
Massmart is hosting an analysts' store visit in the greater Johannesburg region and is providing the following brief sales update: For the 44 weeks to 29 April 2012, Massmart's total sales were R51.7 billion, a growth of 14.7% over the prior period, and comparable store sales grew 8.9%. Inflation for the period is estimated at 1.4%. In line with past practice, during the week of 2 July 2012 Massmart will release a sales update for the financial year to June 2012.
15-Mar-2012
(Official Notice)
22-Feb-2012
(C)
Revenue for the interim period increased by 14.9% to R31.5 billion (2010: R27.5 billion). Gross profit rose by 12.8% to R5.6 billion (2010: R4.9 billion), operating profit climbed by 15.3% to R1.4 billion (2010: R1.2 billion), while profit attributable to owners of the parent grew by 20.9% to R893 million (2010: R738.5 million). Furthermore, headline earnings per share was up by 13.7% to 416cps (2010: 365.8cps).



Dividend

An interim cash dividend of 252cps in respect of the interim period ended 25 December 2011 has been declared.



Prospects

For the 34 weeks to 19 February 2012, total sales increased by 15.1% and comparable sales increased by 9.2%, continuing the trends experienced at the close of the last financial period. The current trends of investment in growth and capacity, including Integration costs, will continue through to the end of the year, with sales performing well, but with operating margin under pressure. The board is pleased with the trading performance and is confident that the current period of investment will bear fruit in future years.
31-Jan-2012
(Official Notice)
Shareholders were advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (basic EPS) and headline earnings per share (HEPS) for the six months to 25 December 2011 within the ranges shown in the table below (all these figures include net foreign exchange translation amounts in both periods).

*Basic EPS -- between 401.8 - 431.1c (2010: 365.3cps), a 10.0 - 18.0% increase

*HEPS -- between 402.4 - 431.6c (2010: 365.8cps), a 10.0 - 18.0% increase



The reason for the lower growth rates for the per share figures is due to the higher number of issued shares following the implementation of the Walmart transaction in June 2011. Massmart's reviewed interim financial results for the six months to 25 December 2011 will be released on 22 February 2012.
24-Nov-2011
(Official Notice)
The Massmart board announced the appointment of Mr David Cheesewright to the board of directors of Massmart as an alternate director to any of the three Wal-Mart-appointees to the Board, being Messrs Doug McMillon, JP Suarez and Jeffrey Davis, with effect from 23 November 2011. David is Executive Vice-President and Chief Executive Officer of Wal-Mart's Europe, Middle East, Africa and Canada regional operations.
23-Nov-2011
(Official Notice)
Shareholders were advised that at the Massmart annual general meeting held at 08:30 on Wednesday, 23 November 2011, the requisite majority of shareholders passed all the ordinary resolutions and the special resolution, as set out in the notice of annual general meeting dated 5 October 2011. Shareholders holding 89.57% of the voting rights were represented at the annual general meeting.
17-Oct-2011
(Official Notice)
Included in the Massmart June 2011 annual report, to be released on Massmart's website and distributed to shareholders is the following: Massmart's total sales increased by 14.7% for the first 14 weeks to 2 October 2011, with product inflation averaging -0.7%. Comparable sales increased by 8.0% for the same period.
17-Oct-2011
(Official Notice)
Massmart shareholders were advised that the annual integrated report of the company for the 52 weeks ended 26 June 2011, which incorporates the annual financial statements and the notice of the annual general meeting, has been distributed to Massmart shareholders on Monday, 17 October 2011. The annual integrated report is also available on Massmart's website (www.massmart.co.za). The annual financial statements contain no changes or modifications to the reviewed consolidated results for the 52 weeks ended 26 June 2011 released on SENS on 25 August 2011. The annual financial statements are audited by Deloitte - Touche whose unmodified report is available for inspection at the registered office of the company.



Notice was given that the annual general meeting of the company will be held at 08h30 on Wednesday, 23 November 2011 at the registered office of the company, Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton. The board of directors of the company has determined, in accordance with section 59 of the Companies Act, 71 of 2008, as amended, that the record date for shareholders to be recorded as shareholders in the securities register of the company in order to: (i) be entitled to receive this notice of annual general meeting is Friday, 7 October 2011, and (ii) be entitled to attend, participate and vote at the annual general meeting is Friday, 18 November 2011. The last date to trade to be entitled to attend, participate and vote at the annual general meeting is Friday, 11 November 2011.
12-Oct-2011
(Media Comment)
Business Day reported that a new deal signed by Massmart and the South African Bureau of Standards(SABS) will help boost the competitiveness of small businesses and develop the retailer's local supplier base. The two have partnered to make it cheaper and easier for small businesses to get the correct certification needed to supply retailers.



CEO Grant Pattison said that Massmart aim to stimulate growth for small, medium and micro enterprises by investing in product and system certification processes. The initiative will initially focus on conducting SABS process audits of the Massmart small-business supplier base that do not have a certified quality management system. Thereafter the focus will be getting Massmart's suppliers to meet the requirements of the ISO9001:2008 quality management system standard, which is a world certification standard.
28-Sep-2011
(Official Notice)
Massmart shareholders are advised that at the general meeting held at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton, at 14h30 on Wednesday, 28 September 2011, the following resolutions required by the Companies Act 71 of 2008, as amended ("Act"), were passed by the requisite majority:

*Special resolution number 1 relating to the provision by the company of any direct or indirect financial assistance as contemplated in section 45 of the Act;

*Special resolution number 2 regarding the approval of directors' remuneration in terms of section 66(9) of the Act;

*Ordinary resolution number 1 relating to the granting of authority to certain directors of the company or the company secretary to sign any documents and do all things necessary to give effect to and/or implement special resolution numbers 1 and 2.
01-Sep-2011
(Official Notice)
Notice is hereby given that a general meeting of Massmart shareholders ("shareholders") will be held at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton, at 14h30 on Wednesday, 28 September 2011, for the purpose of considering and, if deemed fit, passing, with or without modification, various resolutions required by the Companies Act 71 of 2008, as amended ("Act"). The resolutions to be passed are as follows:

*Special resolution number 1 relating to the provision by the company of any direct or indirect financial assistance as contemplated in section 45 of the Act;

*Special resolution number 2 regarding the approval of directors' remuneration in terms of section 66(9) of the Act;

*Ordinary resolution number 1 relating to the granting of authority to certain directors of the company or the company secretary to sign any documents and do all things necessary to give effect to and/or implement special resolution numbers 1 and 2.

The notice of general meeting was posted to Shareholders on Monday, 29 August 2011 and is also available to be viewed on www.massmart.co.za.



The board of directors of the company has determined, in accordance with section 59 of the Act that the record date for shareholders to be recorded as Shareholders in the securities register of the company in order to: (i) be entitled to receive the notice of general meeting is Friday, 26 August 2011; and (ii) be able to attend, participate and vote at the general meeting, is Friday, 23 September 2011. The last day to trade is Friday, 16 September 2011. Accordingly, the salient dates of the general meeting are as follows:

*Record date to be entitled to receive the notice of general meeting -- Friday, 26 August 2011

*Last day to trade -- Friday, 16 September 2011

*Record date to be able to attend, participate and vote at the general meeting -- Friday, 23 September 2011

*General meeting to be held at 14h30 on Wednesday, 28 September 2011
25-Aug-2011
(C)
Revenue increased by 11.6% to R53.1 billion (R47.6 billion). Gross profit improved by 13.8% to R9.7 billion (R8.5 billion) and operating profit before transaction costs rose by 10.3% to R2.1 billion (R1.9 billion). Net attributable profit declined to R838.7 million (R1.1 billion). In addition, headline earnings per share fell to 433.3c (567.2cps).



Dividend

A final ordinary dividend of 134cps has been declared.



Outlook

For the 8 weeks to 21 August 2011, total sales increased by 13.5% and comparable sales increased by 7.1%, indicating perhaps either another market share gain, or a healthier than expected consumer. Whilst management expects that the Walmart relationship will be positive for the group's future financial performance, it is anticipated that this will only be seen in the 2013 financial year and beyond. Despite the difficult and uncertain socio/political and economic environments, both locally and globally, Massmart believes it has the plans in place to deliver another solid performance in the year to June 2012.
25-Jul-2011
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (Basic EPS) and headline earnings per share (HEPS) for the 52 weeks to 26 June 2011 within the ranges shown below (all figures include foreign exchange losses in both periods). Headline earnings and HEPS excluding the costs incurred by Massmart as a result of the Walmart transaction are also shown.



Expected Ranges

June 2011

Rm's

Earnings : 764.7 - 858.8

Headline earnings : 808.5 - 899.6

Headline earnings before Walmart costs : 1 207.0 - 1 298.1



Cents

Basic EPS : 377.1 - 422.1

HEPS : 397.0 - 442.4

HEPS before Walmart costs : 595.6 - 640.9



The costs associated with the Walmart transaction are primarily those disclosed in the Massmart circular to shareholders of 9 December 2010 and the creation of the R100 million Supplier Development Fund. Greater detail will be provided with release of Massmart's reviewed preliminary financial results for the 52 weeks to 26 June 2011 but many of the costs are not tax deductible and a portion of these are non-cash items. The above information has not been reviewed or reported on by the company's auditors. Massmart's reviewed preliminary financial results for the 52 weeks to 26 June 2011 will be released on 25 August 2011.

12-Jul-2011
(Media Comment)
Business Day reported Walmart-owned Massmart may already be stepping on rival retailers' toes as it announced its intention to acquire fresh produce supplier The Fruitspot. The Fruitspot describes itself as one of the largest suppliers of fresh produce in SA and counts retailers such as Spar, Boxer and the Friendly Grocer as clients. It also supplies fast-food company Famous Brands with produce. Massmart spokesman Brian Leroni commented: "Massmart can confirm that an application relating to the potential acquisition of Fruitspot by Massmart was lodged with the Competition Commission".
07-Jul-2011
(Official Notice)
Shareholders were advised that the Massmart's total sales for the 52 weeks to June 2011 increased to R53.0 billion, representing growth of 11.7% over the prior 52-week period, with year-to-date deflation estimated at 1.3%. Comparable store sales increased by 5.2%. Total (and comparable) sales growths for each division for the 52-week period, and the product inflation rates, were as follows:

* Massdiscounters increased by 9.4% (3.7% comparable) with deflation of 7.3%;

* Makro increased by 10.5% (6.9%) with deflation of 0.4%;

* Massbuild increased by 14.1% (7.2%) with inflation of 0.8%; and

* Masscash increased by 13.1% (4.1%) with inflation of 2.1%.



The higher sales levels associated with the FIFA World Cup Soccer tournament in May and June 2010 reduced total and comparable sales growths in Massdiscounters and Makro in the comparable months in 2011. Massmart's reviewed preliminary financial results for the 52 weeks to 26 June 2011 will be released on 25 August 2011.
01-Jul-2011
(Media Comment)
Business Report noted that Massmart has the market guessing about what acquisitions it may be considering. Analysts speculate that possible targets could be Cashbuild or Metcash, although both could raise competition concerns. Absa Investments' equity analyst, Chris Gilmour, commented that "Cashbuild will complement (Massmart's) Builders Warehouse beautifully."
30-Jun-2011
(Media Comment)
According to Business Report, Massmart will speed up its growth by opening new stores, entering new countries and buying more businesses, now that the Walmart has been completed. The next new country under consideration for expansion is Angola, where a Game store may be opened in Luanda. Massmart has 30 outlets in 12 African countries, excluding South Africa, so far.
27-Jun-2011
(Media Comment)
According to Business Report, Walmart's plans to keep opening new Massmart stores in South Africa might results in the creation of as many as 15 000 jobs in the country within the next five years, the companies said at the weekend. Massmart chief executive Grant Pattison told the Business Times there were no plans to open Walmart-branded shops as the local brands had "plenty of value", and there were plans to open 40 of these outlets in the next financial year. Walmart began advertising price cuts and new business opportunities for South Africa at the weekend, six days after it acquired a controlling stake in Massmart. The advertising campaign, which started in print media yesterday, included a letter from "the people" of Massmart and Walmart announcing the merger and price cuts by the group's by the group's retailers Game, Dion-wired, Makro and Builders' Warehouse. Pattison said:
22-Jun-2011
(Official Notice)
The announcement "Changes to Massmart's board" dated 20 June 2011, erroneously omitted to note the resignation of Mr. Michael Rubin, an independent non- executive director, from the board of directors of Massmart ("the board") with effect from 20 June 2011.

20-Jun-2011
(Official Notice)
20-Jun-2011
(Official Notice)
The circular to Massmart shareholders, issued on 9 December 2010, (giving details of the proposed acquisition by Wal-Mart Stores, Inc ("Walmart") of a controlling interest in Massmart) mentioned that, once finalised, the transaction would result in the Massmart board of directors ("the board") being reduced from thirteen to nine members, comprising four independent non-executive directors, three non-executive directors and two executive directors. The following board changes are effective from 20 June 2011.



Resignation of independent non-executive directors

Messrs Dods Brand, Kuseni Dlamini, Jim Hodkinson, Nigel Matthews and Peter Maw, and Ms Dawn Mokhobo have resigned from the board. The average tenure of these directors is almost ten years, and their contribution to the evolution, growth, performance and governance of Massmart over a definitive decade could be no better acknowledged than by Walmart selecting the Company for its entry to Africa. On behalf of all stakeholders, we thank them for their service and diligence as directors and as members of board sub-committees, and wish them well in their future endeavours.



Appointment of non-executive directors

Walmart has nominated Messrs Doug McMillon (President and CEO Walmart International), JP Suarez (Senior Vice President - International Business Development), and Jeffrey Davis (Senior Vice President - Finance - Treasury) to the board, which nominees the board has accepted for appointment.



Changes to the composition of the board sub-committees will be finalised at the first meeting of the new board later this month, and will be in keeping with good corporate governance practice.
01-Jun-2011
(Media Comment)
Business Report highlighted that Walmart and Massmart will tie up a R16.5 billion deal by the end of the month after the Competition Tribunal approved with conditions Walmart's purchase of 51 percent of Massmart. This brings to a close the most talked about, analysed and commented on transaction in South Africa and marks the beginning of an aggressive expansion by Massmart. Massmart chief executive Grant Pattison said the plan is more aggressive and will continue to be funded by internal cashflow. Mr Pattison added that the merged entity expects to create 2000 to 3000 jobs in the next few years. For Walmart, access to the local market is a springboard into Africa. Walmart international chief executive Doug McMillon said South Africa alone is attractive, but we are interested in learning more about sub-Saharan Africa. Massmart's aggressive plans will begin this week, come eight months after Walmart indicated its intention to buy Massmart and follows the Competition Tribunal's decision to approve the deal with conditions.
01-Jun-2011
(Official Notice)
17-May-2011
(Media Comment)
Business Day reported that Massmart and Walmart bowed to inevitable pressure, reluctantly offering to accept conditions to ease passage of their R16.5 billion merger. However, they argued against what they described as unequal and impractical efforts to impose conditions on their planned deal, and counsel for the merging companies again warned they would walk away from the deal if the tribunal set conditions they considered too onerous. The companies voluntarily offered no retrenchments for two years; recognition of the main staff union for as long as the tribunal wanted' and setting up a R100 million fund to help small suppliers meet their procurement needs. The undertakings, which government and union critics of the deal both welcomed and dismissed as insufficient, were at odds with comments counsel for the companies made throughout the week-long hearing and repeated at its conclusion on 16 May 2011.
10-May-2011
(Official Notice)
Massmart hosted an analysts' store visit in the greater Johannesburg region and provided the following brief sales update: For the 44 weeks to 1 May 2011, Massmart's total sales increased to R44.9 billion, a growth of 12.7% over the prior period, and comparable store sales grew 6.2%. Deflation for the period is estimated at 1.8%. In line with past practice, during the week of 4 July 2011 Massmart will release a sales update for the financial year to June 2011.
23-Mar-2011
(Official Notice)
Massmart shareholders are referred to the joint announcements previously published by Massmart and Walmart as well as the circular to shareholders dated 9 December 2010 regarding Walmart's offer to acquire 51 Massmart ordinary shares from each Massmart ordinary shareholder (other than the excluded shareholders) for every 100 Massmart ordinary shares held for a cash consideration of R148,00 per ordinary share by way of a scheme of arrangement in terms of section 311 of the Companies Act (Act 61 of 1973), as amended ("the Scheme").



Shareholders are advised that the merger hearing of the Competition Tribunal ("the Tribunal") in relation to the Scheme commenced on 22 March 2011, as scheduled. The Tribunal had allocated the dates 22 to 25 March 2011 (both inclusive) for the hearing of evidence from factual and expert witnesses. Shareholders are advised that following submissions made to the Tribunal by legal representatives of the Department of Economic Development, the Department of Trade and Industry and the Department of Agriculture and Fisheries, and legal representatives of SACCAWU, FAWU, NUMSA and COSATU, the Tribunal reluctantly decided to stay the merger hearing until May 2011, on procedural grounds. The dates of 9 to 13 May were allocated by the Tribunal for the hearing of evidence from factual and expert witnesses. 16 May was reserved for legal argument. Massmart and Walmart are considering, together with their legal advisors, their options to facilitate an expeditious and fair regulatory hearing. Walmart remains firm in its belief that Massmart is a compelling investment opportunity.
28-Feb-2011
(Media Comment)
According to Business Report, Massmart shareholders are set to benefit to the tune of R1.29 a share because the proposed acquisition by Wal-Mart Stores will not be implemented before March 18. Implementation of the deal after that date will add R250 million to the cost of the Multibillion rand transaction for Wal-Mart. The R250 million is equivalent to the dividend payment that Wal-Mart will miss out on as it will not hold Massmart shares until April, at the earliest. At this stage, it is unclear whether or not the trade unions will be able to significantly delay implementation of the transaction beyond April, if they are unhappy with any decision taken by the Competition Tribunal. The tribunal hearing is set for March 22, which means that implementation of the transaction will only occur in mid-April , at the earliest. This means the current shareholders and not Wal-Mart, will receive all of the interim dividends that were announced by Massmart last week.
24-Feb-2011
(C)
Sales increased by 13.4% from R24.2 billion to R27.5 billion in 2010. Gross profit rose by 15% to R4.9 billion (December 2009:R4.3 billion) and operating profit increased by 6.9% to R1.2 billion (December 2009: R1.1 billion). Profit attributable to ordinary shareholders grew to R738.5 million (December 2009: R693.7 million). In addition, headline earnings per share was up to 365.8cps (December 2009: 346.5cps).



Dividend

Notice is hereby given that an interim cash dividend of 252 cents per share in respect of the period ended 26 December 2010 has been declared payable to the holders of ordinary shares.



Prospects

For the 34 weeks to 20 February 2011, total sales increased by 12.6% and comparable sales increased by 6.4%. Should the trends experienced in the Christmas period and the subsequent eight weeks continue, we expect a difficult second-half. Management will be focused on reducing stock levels, holding gross margins and containing costs, to continue to grow annual operating profit (excluding foreign exchange losses or profits), albeit perhaps at lower levels than achieved in the first-half of this financial year. In the event that the Walmart transaction is approved, shareholders are reminded of the financial effects associated with the transaction that were communicated in the circular to Massmart shareholders dated 9 December 2010, including advisors` fees of R194 million. The financial information on which this outlook statement is based has not been reviewed or reported on by the Company's external auditors.
21-Feb-2011
(Official Notice)
Massmart shareholders were referred to the joint announcements previously published by Massmart and Walmart as well as the circular to shareholders dated 9 December 2010 regarding Walmart's offer to acquire 51 Massmart ordinary shares from each Massmart ordinary shareholder (other than the excluded shareholders) for every 100 Massmart ordinary shares held for a cash consideration of R148.00 per ordinary share by way of a scheme of arrangement in terms of section 311 of the Companies Act (Act 61 of 1973), as amended ("the scheme").



Competition Tribunal hearing dates and revised important dates and times

Shareholders are advised that the Competition Tribunal ("the Tribunal"), at a pre-hearing conference held on 18 February 2011, allocated the dates 22 to 24 March 2011 (both inclusive) for the merger hearing ("the hearing") in relation to the scheme. The Tribunal will hand down its decision within 10 business days following the conclusion of the hearing.



Assuming the Tribunal either approves the Scheme without conditions, or subject to conditions acceptable to Walmart, and that no other conditions precedent to the Scheme remain unfulfilled or if unfulfilled have been waived at such time, the order of Court sanctioning the scheme will be registered with the Registrar of Companies ("the registration") as soon as practical thereafter. Revised important dates and times will be released on SENS and published in the South African press at that time, but it is anticipated that the record date to participate in the Scheme will be approximately two weeks after registration.
16-Feb-2011
(Media Comment)
Business Day reported that Massmart is likely to increase its purchase of locally manufactured goods as it expands its sales of food and building materials. The company which plans to expand its number of about 40 food stores to 300 with full food offering over a 10 year plus horizon, will buy more locally manufactured products. The company, whose shareholders last month voted in favour of global retailer Walmart's planned purchase of 51% stake in the company, is in talks to overcome union opposition to the deal, ahead of next month's hearings in front of the Competition Tribunal, which must approve the R16.58 billion transaction.



Unions representing manufacturing industries and retail employees want to specify guaranteed levels of local procurement. CEO Grant Pattison responded to concerns raised by Economic Development Minister Ebrahim Patel over loss of jobs and local procurement. The likelihood of any such procurement condition being imposed declined with the Commission's recommendation that the deal be approved unconditionally. The commission found there was no evidence of harm to local producers to warrant any conditions being set.
14-Feb-2011
(Official Notice)
On Friday, 11 February, the Competition Commission (`the Commission`) submitted its recommendation on the transaction between Wal-Mart Stores, Inc ("Wal-Mart") and Massmart Holdings Ltd ("Massmart") to the Competition Tribunal ("Tribunal"). Public interest concerns were raised, in terms of section 12A(3) of the Competition Act, by SACCAWU, SACTWU, FAWU and the Small, Medium and Micro Enterprise Forum. The concerns relate to Wal-Mart's record on labour rights and the effect of its procurement practices on local manufacturers and suppliers. With respect to these issues, the merging parties have assured the Commission that they will honour pre-existing union agreements and abide by South African labour law; and will source the majority of their products locally. The Commission notes ongoing discussions between the merging parties and public interest groups to clarify these commitments, and has informed the Tribunal that it would have to consider further representation on these issues at its hearing.
14-Feb-2011
(Official Notice)
02-Feb-2011
(Official Notice)
17-Jan-2011
(Official Notice)
12 Jan 2011 11:06:52
(Official Notice)
The group's total sales for the 26 weeks to December 2010 increased to R27.5 billion, representing growth of 13.3% over the prior 26-week period, with year-to-date deflation estimated at 2.9%. Comparable store sales increased by 7.3%. Massmart's reviewed interim financial results for the 26 weeks to December 2010 will be released on 24 February 2011.
09 Dec 2010 08:08:21
(Official Notice)
29 Nov 2010 09:07:12
(Media Comment)
Business Day said, given the choice of fighting unwelcome conditions on its proposed takeover by Wal-Mart on principle or swallowing them to get the deal done, Massmart would opt for the latter, group chief executive Llewellyn Steeneveldt said last week. While the US giant's proposed purchase of the local retailer Massmart presents few hurdles from a competition law perspective, public interest concerns raised by unions, such as the potential effect on jobs in the wider economy, may put the company under pressure to agree to a moratorium on retrenchments for a period after the takeover. Mr Steeneveldt, who is the executive in charge of Massmart's legal affairs, said: "From where we sit, this one just looks like a slam dunk, but the unions are raising the stakes. The ultimate thing is, while it is a point of principle, there are longer-term considerations to take into account."
29 Nov 2010 08:12:39
(Official Notice)
24 Nov 2010 11:08:38
(Official Notice)
Shareholders are advised that at the Massmart AGM held at 08:30 on Wednesday, 24 November 2010, the requisite majority of shareholders passed all the ordinary resolutions and the three special resolutions, as set out in the notice of annual general meeting dated 6 October 2010. Members holding 77.29% of the voting rights were represented at the meeting. The special resolutions will now be lodged with the Companies and Intellectual Property Registration Office for registration.
16 Nov 2010 08:42:03
(Media Comment)
According to Business Day, a panel of economists and other people will look at Wal-Mart's proposed acquisition of local retailer Massmart to assess its likely effect on issues including local businesses, food security and manufacturing, Economic Development Minister Ebrahim Patel announced. The panel's findings will inform any submission Mr Patel makes to the Competition Tribunal in public hearings over Wal-Mart's planned purchase of the owner of Game, Makro and Builders Warehouse. Mr Patel can make representations on public interest grounds to the tribunal. But unlike in Germany, where the minister can overrule a decision of the merger authority, he has no further influence.
08 Nov 2010 09:20:28
(Media Comment)
Business Day reported that, Massmart which last week rolled out a grocery outlet inside a Game store in Goodwood, Cape Town, started working on the project at the start of the year, well before Wal-Mart's September bid for the group, a company official said last week. The pilot project-in only one of the 84 Game stores countrywide-gives the general merchandise outlet a profile close to a typical Wal-Mart supermarket, but the project predates the US giant's bid for the company, Richard Millson, the marketing director for Massmart's Massdiscounter unit, said on Friday, 05 November 2010. "We started thinking about this some time ago already," he said. "From a Game perspective and a Massdiscounters perspective, we started working actively on it in about January."
28 Oct 2010 09:02:37
(Official Notice)
Shareholders are referred to the cautionary announcement dated 27 September 2010 wherein shareholders were advised that the company had received a non- binding proposal from Wal-Mart Stores, Inc ("Walmart") which could lead to a cash offer to acquire the entire issued share capital of the company for a price of ZAR148 per share ("the Proposed Offer").



Shareholders are further advised that Walmart has notified the company that, after having consulted with major Massmart shareholders and key South African stakeholders regarding the proposed offer, Walmart is investigating potential options for and the merits of retaining Massmart's listing on the exchange operated by JSE Limited. These investigations could lead to Walmart making a partial offer to acquire in excess of 50% of the entire issued share capital of the company for a cash price of ZAR148 per share ("the Proposed Partial Offer").



In the event that a firm offer is received from Walmart, the Massmart Board will obtain an independent opinion and express a view on the firm offer to shareholders. These discussions may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the securities of the Company until a further announcement is made.

28 Oct 2010 08:23:10
(Official Notice)
Shareholders are advised that, effective 28 October 2010, the company's annual financial statements for the year ended 27 June 2010 are available on their website (www.massmart.co.za). The annual financial statements contain no modifications to the reviewed consolidated results, which were published on 26 August 2010. The company's auditors, Deloitte - Touche, have audited the annual financial statements and their unqualified report is available for inspection at the company's registered office. The annual financial statements will be posted on Thursday, 28 October 2010, to shareholders who have elected to receive them. Notice is hereby given that the annual general meeting of the company will be held on Wednesday, 24 November 2010 at 08:30 at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton, to transact the business as stated in the notice of the annual general meeting.
28 Oct 2010 08:20:29
(Official Notice)
For the 14 weeks to 3 October 2010, total sales increased by 14.9% and comparable sales increased by 9.2%, continuing the trends experienced for most of the second half of the 2010 financial year, specifically strong general merchandise and home improvement trading performances. In the short term, the group expect the food and african businesses to continue to underperform due to food deflation and the strong rand, respectively, but expect gradual improvement in both of these throughout the coming financial year. Acknowledging the concerns and uncertainty permeating the global economy, if current South African economic and trading trends continue for the financial year, Massmart should achieve profit growth, before any foreign exchange translation adjustments, ahead of sales growth for the full year. The financial information on which this outlook statement is based has not been reviewed or reported on by the company's external auditors.
01 Oct 2010 09:46:03
(Media Comment)
According to Business Report, a successful bid for Massmart by Wal-Mart, which has set global benchmarks for supply chain sustainability, is likely to strengthen the local retailer's environmental targets, particularly those for waste management. Wal-Mart, which has offered to acquire Masmart for R30 billion, plans to eliminate landfill waste by 2025. It also aims to have 100 percent of its energy needs met by renewable sources and to sell products that are sustainable for the planet and its people, all the while requiring suppliers to adopt the same practices.
29 Sep 2010 10:00:45
(Media Comment)
According to Business Report, the SA Commercial, Catering and Allied Workers' Union ("Saccawu") has said it does not exclude approaching the competition authorities as the organisation plans to engage with Wal-Mart. A Saccawu statement said the union will call on the government, civil society and international labour unions to help ensure there would be no erosion of workers' rights if Wal-Mart's acquisition of Massmart goes ahead.
27 Sep 2010 07:38:31
(Official Notice)
Shareholders are advised that the company has received a non-binding proposal from Wal-Mart Stores, Inc, ("Walmart") which could lead to Walmart making a cash offer to acquire the entire issued share capital of the company for a price of R148.00 per share ('the proposed offer'). In the event that a firm offer is received the board of directors of Massmart will obtain an independent opinion and express a view on the firm offer to shareholders. The making of the proposed offer is subject to a number of pre-conditions including, inter alia, due diligence, which will commence immediately. In order to satisfy these pre-conditions, a period of exclusivity has been granted by Massmart to Walmart. A reciprocal period of exclusivity has been granted by Walmart to Massmart. Shareholders are advised that there can be no certainty that these discussions will lead to a formal offer being made. The proposed offer may have a material effect on the price of the company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the securities of the company until a further announcement is made. Shareholders will be updated at the time of renewal of the cautionary announcement, as required in terms of the JSE Listings Requirements, which will be on 8 November 2010.
30 Aug 2010 08:56:59
(Media Comment)
Business Report said that Massmart, which owns Game, Makro and Builder's Warehouse, is the most expensive stock in the retail sector, outperforming such rivals as Shoprite, because of speculation that Wal-Mart stores, the world's biggest retailer, may be mulling a takeover bid. The speculation is nothing new but it has provided a floor to Massmart's stock and analysts are becoming reluctant to recommend it to clients, saying the run-up in the share price is probably unjustified. Abdul Davids, the head of research at Kagiso Asset Management, said on Friday 27 August 2010 Massmart's share price had rallied sharply since February, resulting in a year to date gain of as much as 36 percent, compared with Woolworths at 16 percent, Truworths at 12 percent and Foschini with 10 percent. David said this trend was an indication that the increase in Massmart's share price could have been fuelled by the speculation over Wal-Mart, which had previously highlighted Africa as a growth area.
26 Aug 2010 08:18:44
(C)
Revenue increased by 10% to R47.6 billion (R43.2 billion) and gross profit was up by 10.2% to R8.6 billion (R7.8 billion). However, operating profit declined by 4.3% to R1.9 billion (R2 billion) and net attributable profit decreased to R1.1 billion (R1.2 billion). In addition, headline earnings per share fell by 6.2% to 567.2c (605cps).



Dividend

A final ordinary dividend of 134cps has been declared.



Outlook

For the eight weeks to 22 August 2010, total sales increased by 15.0% and comparable sales increased by 9.2%, continuing the trends experienced for most of the second half of the 2010 financial year, specifically with strong General Merchandise and Home Improvement trading performances. In the short-term, management expects the Food and African businesses to underperform due to food deflation and the strong rand respectively, but expect gradual improvement in both of these throughout the coming financial year. Acknowledging the concerns and uncertainty permeating the global economy, if current South African economic and trading trends continue for the financial year, Massmart should achieve profit growth, before any foreign exchange translation adjustments, ahead of sales growth for the full year.
18 Aug 2010 16:09:22
(Official Notice)
Shareholders are advised that Massmart expects to release reviewed earnings, headline earnings, earnings per share (Basic EPS) and headline earnings per share (HEPS) for the 52 weeks to 27 June 2010 within the ranges shown. Headline earnings excluding the foreign exchange losses and HEPS excluding the foreign exchange losses are also shown. The June 2009 financial year was also a 52-week period. Massmart's reviewed preliminary results for the financial year to 27 June 2010 will be released on 26 August 2010. The financial information on which this trading statement is based has not been reviewed or reported on by Massmart's external auditors.

22 Jul 2010 11:00:06
(Media Comment)
According to The Financial Mail, 60-70% of Massmart's free float is owned by foreign investors. In addition, the possibility that Massmart might be a target of a foreign retailer seems to have been priced into its shares. The company's share price of R122.00 and p:e of 24 are way above their historical high's, as well as the JSE's average p:e of 16. Massmart's Game is a business that is most similar to Wal-Mart's, but Nedcor Securities retail analyst, Syd Vianello, commented that Wal-Mart would not be interested in Massmart's wholesale cash and carry businesses, Masscash and Massbuild - Builders Warehouse. Sanlam's Marlo Scholtz thinks that despite Massmart not being expensive in relation to global peers, there are other more attractive markets such as Russia or China.
08 Jul 2010 12:14:37
(Official Notice)
The group's total sales for the 52-week period to 27 June 2010 were R47.5 billion, representing growth of 10.1% over the prior year's 52-week period, with overall deflation estimated at 0.4%. Comparable store sales increased by 2.6%. Excluding African sales from both periods, the group's total sales and comparable store sales increased by 12.1% and 4.5% respectively. Divisional total sales growth for the 52-week period to 27 June 2010, comparable sales are shown in brackets, were as follows:

* Massdiscounters increased by 8.5% (3.2%) with estimated deflation of 4.2%;

* Masswarehouse increased by 3.6% (3.6%) with estimated inflation of 2.8%;

* Massbuild increased by 13.9% (3.4%) with estimated inflation of 1.8%; and

* Masscash increased by 14.5% (0.6%) with estimated deflation of 0.6%.



Massmart's reviewed preliminary results for the financial year to 27 June 2010 will be published on Thursday, 26 August 2010.
08 Jul 2010 08:51:44
(Media Comment)
Business Report stated that the wholesale giant Massmart, through its operating division Masscash, would expand its food business using Cambridge food stores by catering to the lower end of the market, a move which could pay dividends for the group in the future, analysts say. "Food retailing is a resilient side of the retail market. We will expand our food business through Cambridge Food stores situated in KwaZulu-Natal, the Free State, North West and Gauteng. These will be focused on the bottom end of the market as this is where growth lies", Masscash retail director, Jay Currie, said.
02 Jun 2010 08:35:15
(Media Comment)
Lucas Ramatlhodi, the co-coordinator in the secretariat at the SA Commercial, Catering and Allied Workers Union ("Saccawu"), which will begin a strike in June 2010 at Massmart's Game and Dion Wired chains to protest retrenchments, claims that Massmart is laying off workers as part of a strategy to neutralise unions ahead of a rumoured deal with Wal-Mart. However, Massmart spokesperson, Brian Leroni, said that there was "no Wal-Mart deal". Massmart wants to retrench 1 500 employees that the company says could have been avoided if the union had accepted alternative proposals.
11 May 2010 09:43:29
(Official Notice)
Massmart is hosting an analysts' store visit in the greater Durban region and is providing the following brief sales update:

For the 44 weeks to 2 May 2010, Massmart's total sales increased to R39.9 billion, a growth of 8.6% over the prior period, and comparable store sales grew 1.4%. Inflation for the period is estimated at 0.8%. In line with past practice, during the week of 5 July 2010 Massmart will release a sales update for the financial year to June 2010. The information has not been reviewed or reported on by the company's external auditors.

31 Mar 2010 13:43:01
(Official Notice)
Mr Zitulele ("KK") Combi, who has been a non-executive director on the board of Massmart since 1 March 2003, has given the board notice of his resignation as of 31 March 2010. His resignation will be effective 1 May 2010.

25-Feb-2010
(C)
Sales increased from R22.8 billion to R24.2 billion in 2009.Gross profit rose to R4.3 billion (December 2008:R4.1 billion) and operating profit decreased to R1.1 billion (December 2008:R1.3 billion). Profit attributable to ordinary shareholders declined to R693.7 million (December 2008:R868.3 million). In addition, headline earnings per share was down to 694.3cps (December 2008:862.6cps).



Dividend

Notice is hereby given that an interim cash dividend of 252cps in respect of the period ended 27 December 2009 has been declared payable to the holders of ordinary shares.



Prospects

For the 34 weeks to 21 February 2010, total sales increased by 6,7% and comparable sales increased by 0,4%, showing an encouraging turnaround that seems to have commenced in mid-December 2009. These recent sales trends suggest that the worst is behind the group, and should the current trends and currency values continue, Massmart could comfortably grow operating profits, before foreign exchange, in the second half and perhaps even for the 2010 financial year. The financial information on which this outlook statement is based has not been reviewed or reported on by the company's external auditors.
13 Jan 2010 14:43:09
(Official Notice)
The group's total sales for the 26 weeks to 27 December 2009 increased to R24.0 billion, representing growth of 5.6% over the prior period, with year-to-date inflation estimated at 1.6%.



Headline earnings and headline earnings per share are both expected to be between 16% and 24% lower than the prior period's comparative figures. Excluding foreign exchange translation amounts in both periods however, headline earnings and HEPS are both expected to be between 6% and 14% lower than the prior period?s comparative figures



Earnings and earnings per share for the 26 weeks are both expected to be between 16% and 24% lower than the prior period?s comparative figures.



Massmart' reviewed interim financial results for the 26 weeks to 27 December 2009 will be released on 25 February 2010.
25 Nov 2009 09:45:32
(Official Notice)
Shareholders are advised that at the Massmart AGM held on Wednesday, 25 November 2009, the requisite majority of shareholders passed all the ordinary resolutions and the three special resolutions, as set out in the notice of meeting dated 5 October 2009.



Members holding 73.61% of the voting rights were represented at the meeting. Voting on the ordinary resolution placing 5% of the company's authorised but unissued shares under the control of the directors were approved by 94.21% of the votes cast.



Voting on the special resolution granting a general mandate to the directors to conduct share buy-backs within prescribed limits were approved by 97.88% of the votes cast.

25 Nov 2009 09:11:57
(Official Notice)
Tactical business planning in Massmart is typically premised on looking at trading patterns for the same period in the prior year and making allowances for any changes in key economic trends. This year business planning is extremely difficult because the speed with which the global economic crisis has fundamentally changed the environment has made references to the prior year almost invalid.



Given the critical Christmas trading period, it is difficult to forecast Massmart's earnings with any reasonable degree of certainty, but the expects earnings per share and headline earnings per share for the six months to December 2009, including and excluding any foreign currency translation effects, to be below the comparable prior period. Whilst there are some signs of improvement in South Africa in Home Improvement and General Merchandise, the group continues to run the business assuming a continuation of current trends and are focused on margins, costs and inventory management. Although the timing and strength of the recovery remains uncertain, the group is more confident than ever that the group haves the management, assets and strategies to out- perform in the next positive cycle and the group continues to invest accordingly.
29 Oct 2009 11:20:05
(Official Notice)
Shareholders are advised that, effective 29 October 2009, the company's annual financial statements for the year ended 28 June 2009 are available on their website (www.massmart.co.za). The annual financial statements contain no modifications to the reviewed consolidated results, which were published on 27 August 2009. The annual financial statements will be posted to shareholders, who have elected to receive them, on Tuesday, 3 November 2009. Notice was also given that the annual general meeting of the company will be held on Wednesday, 25 November 2009 at 08:30 at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton, to transact the business as stated in the notice of the annual general meeting.
27 Oct 2009 13:45:05
(Official Notice)
Included in the Massmart June 2009 annual report, to be released on Massmart's website and distributed to shareholders in the next few days, are the following paragraphs: "For the 14 weeks to 4 October 2009, total sales increased by 5.0% and comparable sales increased by 0.7%. "As is evident in the first 14 weeks' sales, the consumer remains under pressure. Until there are clear signs of recovery in consumer expenditure, management remains focused on protecting the income statement and balance sheet, while continuing to invest for growth where returns are clear. Profit growth for the full year will depend on the recession coming to an end by the middle of the financial year."
12 Oct 2009 08:43:54
(Media Comment)
Business Report quoted Massmart CEO Grant Pattison as saying that the company will spend about R380 million in 2010 on acquisitions and opening new stores in South Africa. The group will use the other half of its R760 million capital expenditure on existing operations.
23 Sep 2009 09:04:17
(Media Comment)
Business Day reported that the Competition Tribunal has rejected a recommendation from the Competition Commission against the proposed merger between Massmart subsidiary Masscash and grocery wholesaler Finro and approved the merger without any conditions. Masscash intends to acquire 75% of Finro for an undisclosed sum. Masscash divisional CEO, Robin Wright, said he was pleased with the result and the deal will improve the company's competitive position in Port Elizabeth.
27 Aug 2009 08:15:27
(C)
Revenue increased by 10.5% to R43.2 billion (R39.9 billion) and operating profit declined by 2.1% to R2 billion (R2.1 billion). Net attributable profit was down by 3.6% to R1.2 billion (R1.3 billion). In addition, headline earnings fell by 4.6% to 605cps (663cps).



Dividend

A final ordinary dividend of 134cps has been declared.



Outlook

For the eight weeks to 23 August 2009, total sales increased by 5.5% and comparable sales increased by 1.3%. As is evident from this sales update, the South African consumer remains under pressure. Until there are clear signs of recovery in consumer expenditure, management remains focused on protecting the income statement and balance sheet, whilst continuing to invest for growth where returns are clear. The first-half of the 2010 financial year will undoubtedly be very difficult as Massmart trades over a reasonably resilient first-half last year, and the group may see profit decline compared to that period. Profit growth for the full financial year will depend on the timing of any economic recovery - there may be no profit growth if this recovery is delayed past December 2009.



Massmart has so far weathered the economic storm and its strategic, operational and long-term growth prospects are intact. Management is responding to the short-term environmental challenges, but remains confident in the underlying strengths of the group and is positive about medium to long- term growth potential in Massmart's markets in both South Africa and the rest of Africa.
12 Aug 2009 08:35:29
(Media Comment)
According to Business Report, the Competition Commission said the proposed merger between Massmart subsidiary Masscash and Finro would allow Massmart to hike prices. After surveying nearly 400 researchers who buy from Masscash, the commission recommended that the proposed merger between the two firms be prevented from going ahead. The Competition Tribunal will hear arguments from both sides during the third week of August 2009.
16 Jul 2009 09:16:15
(Official Notice)
Unrealised Foreign Currency Translation Effect

Due to the global economic crisis, many African countries' currencies weakened significantly in the six months to June 2009. In Massdiscounters' African stores, these weaker currencies gave rise to a larger than anticipated unrealised foreign currency balance sheet translation loss. Consequently, the group will report an estimated total net unrealised translation loss of R78 million (prior year: R63 million unrealised gain).



Expected Group Financial Results

Comparing this financial year to the equivalent 52-week period in the prior year:

*Including the group's net foreign currency translation effect, the 2009 (HEPS) is expected to be between 0% and 8% below the prior year HEPS figure of 634 cents.

*Excluding the net foreign currency translation effect from both financial years however, the 2009 adjusted HEPS is expected to be between 0% and 8% higher than the equivalent prior year adjusted HEPS figure of 612 cents.

Comparing this financial year to the prior year's 53-week period:

*HEPS is expected to be between 4% and 12% below the prior year?s HEPS figure of 663 cents.

*Attributable earnings and earnings per share are expected to be between 3% and 11% below the prior year figures of R1 314 million and 660 cents respectively.

Massmart's reviewed preliminary results for the financial year to June 2009 will be released on 27 August 2009.

08 Jul 2009 16:36:59
(Official Notice)
The group's total sales for the 52-week period increased to R43.1 billion, a growth of 10.4% over the prior year's 52-week period, with inflation estimated at 11.4%. Comparable store sales increased by 8.2%. Comparing this year's 52-week period to last year's reported 53-week period however, shows total sales growth of 8.4%.



In Masscash the change to the BATSA cigarette wholesaling model reduced total sales growth in that division for the current 52-week period by approximately 4.9%. For the same reason, group total and comparable sales growths were reduced by approximately 1.4% each. Massmart's reviewed preliminary results for the financial year to June 2009 will be published on 27 August 2009.
12 May 2009 08:35:23
(Official Notice)
For the 44 weeks to 3 May 2009, Massmart's total sales increased to R36.7 billion, a growth of 11.8% over the prior period, and comparable store sales grew 9.7%. Inflation for the period is estimated at 11.8%.

Total sales growth for each division for the 44-week period was as follows:

*Massdiscounters grew 12.5% with inflation of 4.6%.

*Masswarehouse grew 12.5% with inflation of 13.4%.

*Massbuild grew 0.3% with inflation of 12.5%.

*Masscash grew 15.9% with inflation of 16.7%.
08 May 2009 08:26:08
(Media Comment)
Business Day reported that Massmart was continuing with its strategy of investing for the future despite the recession. However, CEO Grant Pattison said it would change its tactics to take advantage of new opportunities.
01 Apr 2009 10:35:38
(Media Comment)
According to Business Report, Massmart might experience lower profit margins during the 2010 fiscal year. CE Grant Pattison commented that he even though he expected food inflation to drop to single digits by the third quarter, sales growth had slowed since December 2008 and would remain under pressure in the second half. Pattison expects things to get worse before they get better.
26 Feb 2009 08:35:49
(C)
Turnover increased by 13.1% from R20.1 billion to R22.7 billion in 2008.Gross profit rose 11.2% to R4.1 billion (2007:R3.7 billion) and operating profit increased 11.7% to R1.3 billion (2007:R1.1 billion). Profit attributable to ordinary shareholders surged 13.8% to R868.3 million (2007:R762.9 million). In addition, headline earnings on a per share basis grew 13.1% to reach 432.6cps (2007:382.6cps).



Dividends per share

An interim dividend of 252cps was declared for the period under review.



Prospects

The company is satisfied with the performance of the group in this environment, but still see many opportunities for improved performance. Management is endeavouring to balance a disciplined operating focus that is responding to the most recent trends, with investments in long-term competitiveness and growth, whilst being alert to cash preservation. The group is in a healthy position to weather the economic storm and we anticipate being in an advantageous position to participate in the next economic upswing.
19 Feb 2009 11:37:02
(Official Notice)
Shareholders are advised that headline earnings and headline earnings per share for the 26 weeks ended 28 December 2008 are both expected to be between 10% and 15% higher than the prior period's comparative figures. Earnings and earnings per share for the 26 weeks ended 28 December 2008 are also both expected to be between 10% and 15% higher than the prior period's comparative figures. Massmart's reviewed interim financial results for the 26 weeks to 28 December 2008 will be released on 26 February 2009.
08 Jan 2009 15:54:43
(Official Notice)
For the 26 weeks to 28 December 2008 Massmart's total sales increased 13.2% over the prior period to R22.8 billion, with 12-month rolling inflation estimated at 9.9%. Comparable-store sales increased 11.9%. Total sales growth for each division for the 26-week period was as follows:

*Massdiscounters increased 12.9% with inflation of 1.8%;

*Masswarehouse increased 14.8% with inflation of 11.9%;

*Massbuild increased 1.4% with inflation of 10.6%; and

*Masscash increased 17.3% with inflation of 15.9%.

Massmart's reviewed interim results for the six months ended December 2008 will be published on 26 February 2009.
26 Nov 2008 11:24:20
(Official Notice)
Shareholders are advised that at the Massmart annual general meeting held on Wednesday, 26 November 2008, the requisite majority of shareholders passed all the ordinary resolutions and the two special resolutions, as set out in the notice of meeting dated 1 October 2008. The special resolutions will now be lodged with the Companies and Intellectual Property Registration Office for registration. Included in the resolutions were those required for the approval of the sale of discounted treasury shares to Massmart`s Black non-executive directors, which will now be implemented.
30 Oct 2008 12:09:31
(Official Notice)
Shareholders are advised that the group's annual financial statements for the year ended 30 June 2008 were posted to shareholders and contain no modifications to the reviewed results, which were published on 21 August 2008. Deloitte and Touche audited the results and the annual financial statements of the company and their unqualified report is available for inspection at the registered offices of the company.



Notice is hereby given that the annual general meeting of the company will be held at 08:30 on Wednesday, 26 November 2008, at Massmart House, 16 Peltier Drive, Sunninghill Ext 6, Sandton, to transact the business as stated in the notice of the annual general meeting.
13 Oct 2008 15:04:13
(Official Notice)
09 Oct 2008 12:29:00
(Official Notice)
Included in the Massmart 2008 annual report, to be released shortly, is the following sales update :

*Massmart group's total sales for the 13 week period increased to R9.9 billion, a growth of 13.1% over the prior year, with inflation estimated at 8.7%.

*Comparable store sales grew 11.8% over the period.

The above information has not been reviewed or reported on by the company's auditors.
04 Sep 2008 15:26:37
(Official Notice)
Massmart announced that Mr Aubrey Cimring, managing director of Builders Warehouse, has decided to relocate to Canada. Since joining in 2003, Aubrey has made a major contribution to the Massmart Group, firstly as group finance executive and secondly in his current role. His last day in the office will be 14 November 2008. Massmart is pleased to announce the appointment of Mr Llewellyn Walters to the position of Divisional CEO, Builders Warehouse. Llewellyn will assume his responsibilities on 1 November 2008.
21 Aug 2008 08:15:03
(C)
With the downturn in the economic cycle gaining momentum the performance across the four divisions remained balanced and produced a strong overall result for the group. Trading patterns were as expected in this economic environment with strong Food and Liquor sales growth of 17.1%, General Merchandise sales growth holding steady at 11.2% and Home Improvement sales growth of 14.4% although slowing through the year. Gross profit of 18.36% was just higher than the prior year?s 18.31%. Total expenses increased by 10.8% and improved as a percentage of sales over the prior year, even after adjusting for the effect of the 53rd week. Included in operating profit are net realised and unrealised foreign exchange gains of R62.5 million (2007: R41.4 million loss), most of which arose from Massdiscounters` African stores. Headline earnings grew by 21.8% (52-weeks: 16.5%) while headline EPS grew by 22.7% (52-weeks: 17.3%).



Dividends

Notice is herby given that a final cash dividend of 163 cents per share in

respect of the period ended 29 June 2008



Prospects

For the 7 weeks to 17 August 2008, total sales increased by 12.1% and comparable sales increased by 10.9%. The resilience of Massmart through previous tightening economic cycles gives the group the confidence that they will continue to perform well relative to competitors trading in similar categories. This short-term cycle presents both opportunities and threats as consumers adjust their purchasing behaviour to accommodate higher food, energy and interest costs. The group is monitoring closely the effects of the interest rate cycle on the relatively new Home Improvement business. Given the current economic environment, they are cautious about the year ahead, but are confident in their business model and are excited about the opportunities that are available to ensure medium-to long-term growth.
13 Aug 2008 12:59:45
(Official Notice)
Shareholders are advised that headline earnings and headline earnings per share for the 53 weeks ended on 29 June 2008 are both expected to be between 20% and 24% higher than the equivalent prior year figures. Massmart`s preliminary reviewed financial results for the 53 weeks to 29 June 2008 will be released on 21 August 2008.
10 Jul 2008 09:29:57
(Official Notice)
Massmart's total sales for the 53-week period increased to R39.8 billion, a growth of 14.7% over the prior year, with inflation estimated at 7.5%. Comparing this year?s 52-week period to the same period last year shows total sales growth of 12.3% and comparable store sales growth of 10.9%.
15 May 2008 07:21:13
(Official Notice)
For the 46 weeks to 11 May 2008, the Massmart group?s total sales increased to R34.5 billion, a growth of 12.5% over the prior period, and comparable store sales grew 10.9%. Inflation for the period is estimated at 6.8%. In line with past practice, during the week of 12 July 2008 Massmart will release a sales update for the financial year to June 2008.
28 Feb 2008 07:46:17
(C)
Total and comparable sales growths for the 26-week period to, 23 December 2007, were 11.1% and 9.4% respectively. Net trading space increased by 2.9% to a total of 1 023 294mSquared. During the period 4 stores were converted or relocated, and 5 opened, resulting in a total of 243 stores at the end of December 2007. Gross profit of 18.4% was marginally higher than the prior period?s 18.3%, a combination of the increased sales contribution from the higher margin Massbuild division, slightly higher gross margins in Masscash and lower gross margins in Massdiscounters.



Dividends

An interim cash dividend of 223 cents per share in respect of the period ended 23 December 2007 has been declared.



Prospects

A review of the challenges posed by the energy crisis concluded that Massmart`s previous investments in electrical self-sufficiency over the past few years have proven worthwhile and we are able to operate our stores and other crucial support functions despite load-shedding. In the short-term, the opportunities presented in selling solutions in energy management appear to balance the increase in the cost of generating our own power, although the effect in the medium- to long-term is difficult to forecast. The plans shared with us by Eskom seem comprehensive and attainable, and we will work closely with them and all the relevant authorities in responding to this crisis. The group continue to believe in the positive effect of the structural change to the South African consumer market and whilst the upper-end of the growth prospects may have been capped in the medium-term, it is believed these more challenging times will also bring opportunities to further consolidate leadership position in the markets in which the group trades.
14 Jul 2006 15:52:11
(Official Notice)
At the general meeting of Massmart held today, 14 July 2006, the requisite majority of Massmart shareholders approved all the ordinary and special resolutions proposed relating to the creation and issue of the equivalent of approximately 10% of Massmart's current issued share capital to the Thuthukani Empowerment Trust and the Management Trust ("the BEE transaction").



Following the imminent registration of the special resolutions by the Companies and Intellectual Property Registration Office, the BEE transaction will be implemented with effect from 1 October 2006.
11 Jul 2006 10:56:03
(Official Notice)
Massmart announced its trading update for the 52 weeks to 26 June 2006. Sales growth accelerated consistently throughout the second half of the financial year in response to heightened merchandising and marketing aggression, to produce full year sales of R30.1bn, a growth of 15.2% over the previous year. Sales before acquisitions grew 8.8% and sales from comparable stores (open for the entire comparable period) grew 5.5%. This growth was particularly pleasing given both the low 1.6% estimated rate of sales inflation (comprising inflation of 4.3% in food and liquor and deflation of 1.0% in general merchandise), and the group's strategy to remain a predominantly cash business (the contribution of consumer credit sales was constant at only 2% of total sales) Massmart's results for the year ending June 2006 will be published on 24 August 2006 and will reflect continued strong cash flows from operations, increased profitability, and a 20% to 30% growth in headline earnings per share (HEPS) based on the HEPS to June 2005 restated for the adoption of International Financial Reporting Standards. Attributable earnings per share will be 40% to 50% higher than the equivalent restated figure for June 2005. Recent macro economic developments have not altered the board's positive view on Massmart's prospects for the year to June 2007.
01 Jun 2006 16:48:20
(Official Notice)
The proposed Massmart Black Economic Empowerment Scheme ("the BEE Scheme") announced on 16 May 2006 made provision for the participation in the BEE Scheme by current and future previously disadvantaged non-executive directors amounting to 0.5% (pre-dilution) of the issued shares of the company.



In response to shareholder concerns, expressed subsequently, that issuing options, or equity instruments similar to options, to non-executive directors renders them no longer independent as defined by good corporate governance practice, Massmart's previously disadvantaged non-executive directors have elected to forego their participation in the BEE Scheme in favour of Massmart's general staff. The Massmart general staff participation will therefore increase from 8.5% to 9% (pre-dilution) of the company's issued shares. This change will have a negligible effect on the economic cost of the BEE Scheme, as calculated in terms of IFRS 2 - Share-based Payments.



The Massmart board will continue to investigate alternative means of facilitating share-based ownership for current and future previously disadvantaged non-executive directors, and will seek the requisite shareholder approval for any such proposal in due course.
29 May 2006 16:01:39
(Official Notice)
Having studied the reasons for the Competition Tribunal's prohibition of the acquisition of Moresport by Massmart, the parties and their advisors are of the view that the Competition Commission and the Tribunal have erred in their analysis and decisions. Massmart would like to proceed with the appeal against the Tribunal's decision on 1 August 2006. The possibility exists that a ruling may only be handed down in September 2006 or later, 16 months or more after the transaction was entered into.
24 May 2006 17:05:11
(Official Notice)
16 May 2006 10:33:51
(Official Notice)
Massmart resolved to enter into a BEE transaction pursuant to which shares equivalent to approximately 10% of Massmart's current issued share capital will be issued to trusts representing a broad base of Massmart's and all its subsidiaries' staff, previously disadvantaged Massmart Group managers and previously disadvantaged non-executive directors of Massmart. The BEE Transaction has a value of approximately R1.1 billion based on the closing price of a Massmart ordinary share on 15 May 2006, of R55.00.



Massmart will, subject to shareholder approval, create two new classes of preference shares to be issued to three trusts. Convertible Redeemable Participating Non-cumulative "A" Preference Shares and Convertible Redeemable "B" Preference Shares will be created and authorised for this purpose. The main difference between the two classes of preference shares is that the holders of the "A" preference shares will receive dividends and other distributions whilst the "B" preference shares will not. In addition, the capital distribution profiles of these two classes of preference shares are different.

Massmart has estimated the economic cost of entering into the BEE Transaction for the Massmart Group and its shareholders to be approximately R240 million. This represents approximately 2.30% of the market capitalisation of Massmart at 15 May 2006.



The BEE Transaction is subject, inter alia, to the fulfilment of the following conditions precedent:

*the passing of all necessary resolutions by the requisite majority of shareholders at a general meeting of Massmart;

*registration of the special resolutions by the Registrar of Companies; and

*the approval of the JSE.
10 Apr 2006 16:40:56
(Official Notice)
Shareholders are advised that the proposed offer by Massmart to acquire 84.12% of the shares of Moresport was prohibited by the Competition Tribunal on 10 of April 2006. The Tribunal is obliged to hand down the reasons for its decision within twenty business days at which time the parties will consider and announce any further action.
10 Apr 2006 13:09:55
(Official Notice)
The Competition Tribunal has, on 10 April 2006, prohibited the merger between Massmart and Moresport. The Competition Tribunal will hand down the reasons for the decision in due course. The Commission recommended prohibition because in its view the merger would remove an existing effective competitor from the already concentrated markets in which the parties compete. And the transaction would substantially prevent or lessen competition in the markets for the retailing of general sporting and outdoor equipment through national chains.
23 Feb 2006 08:30:05
(C)
06 Feb 2006 12:08:45
(Official Notice)
Massmart has agreed to sell its 100% stake in Furnex Stores (Pty) Ltd and noted that the sale did not have a material effect on the group's earnings or headline earnings. Although the group did not disclose the price of the sale, Massmart agreed to enter into negotiations with the buyer that would provide the greatest degree of employment certainty for Furnex employees, as well as to serve the best interests of Furnex customers.
10 Jan 2006 14:56:39
(Official Notice)
Improved sales growth across all divisions from mid-November increased Massmart's total sales to R15.8 billion, a growth of 15.3% on 2004. Sales before acquisitions grew 7.8% and comparable store sales grew 5.2%. With overall sales inflation of zero, total volume growth of 15.3% was slightly ahead of merchandise plans.



Divisional sales growth was as follows:

* Massdiscounters (Game and Dion) grew 5.8% with deflation of 3.3%;

* Masswarehouse (Makro) grew 10.3% with zero inflation;

* Massbuild (Builders Warehouse, Federated Timbers, Servistar and De La Rey) grew 186.5% with inflation of 2.4%;

* Masscash wholesale cash - carry outlets (CBW and Jumbo) grew 10.4% with inflation of 1.8%; and

* Masscash buying associations (Shield and Furnex) sales (by definition, not included in comparable store sales) declined by 9.8% with zero inflation, depressed by the previously announced decision to curtail high volume, low margin, high risk sales.



Massmart's interim results to December 2005 will be published on 23 February 2006 reflecting headline earnings per share growth of between 20% and 30% when compared to the comparable period for the previous financial year.
23 Nov 2005 12:47:19
(Official Notice)
At the Massmart Annual General Meeting held on Wednesday 23 November 2005, the requisite majority of shareholders passed all the ordinary resolutions and the two special resolutions, as set out in the notice of meeting dated 13 October 2005.



Acquisition of Moresport by Massmart

In the week commencing the 30 January 2006, the Competition Tribunal will hear the arguments of Massmart and those of the Competition Commission, which recommended that the purchase of Moresport by Massmart be prohibited. The Tribunal's ruling is expected during the course of February 2006.
31 Oct 2005 15:55:56
(Official Notice)
As predicated and announced, the decision to move away from higher risk, low margin sales in Shield and Furnex has significantly slowed sales growths in those businesses. To avoid distorting the interpretation of the group's sales growths, the trading updates now exclude sales for those chains. On this basis, the eight-week sales report to 21 August 2005 excluding Shield and Furnex would have been: total sales growth 21.4%, sales before acquisitions grew 13.0% and comparable store sales grew 6.6%. For the 15 weeks to 9 October 2005, total sales grew by 20.1%, sales before acquisitions grew 11.3% and comparable store sales grew 4.7%, with profit growth ahead of sales and prior year. Total sales growth, including Shield and Furnex, for this 15-week period was 15.5%.



28 Oct 2005 11:02:10
(Official Notice)
The annual general meeting of the company will be held at 08h30 on Wednesday, 23 November 2005, at the offices of the Company, to transact the business as stated in the notice of the annual general meeting.
28 Oct 2005 10:58:45
(Official Notice)
The company's annual financial statements for the year ended 30 June 2005 were today posted to shareholders and contain no modifications to the audited results, which were published on 25 August 2005.



18 Oct 2005 09:14:03
(Official Notice)
On 26 April 2005 Massmart announced the acquisition of Moresport (Pty) Ltd, which was subject to the approval of the Competition Authorities. On the 14 October 2005, the Competition Commission recommended to the Competition Tribunal that the proposed acquisition be prohibited. The Competition Commission and Massmart will shortly be appearing before the Competition Tribunal. Following this appearance, the Competition Tribunal will issue its ruling on the proposed acquisition, which may or may not agree with the Competition Commission's recommendation. Further announcements will be made in due course.
22 Sep 2005 08:28:17
(Official Notice)
A circular, convening a general meeting of shareholders of the company, was posted to all shareholders on 30 August 2005. The purpose of the circular was to obtain shareholder approval for the creation and issue of non-redeemable, cumulative, non-participating preference shares. Massmart intends to issue sufficient preference shares, through a private placement, in order to raise R500 million of capital for the acquisition of Moresport (Pty) Ltd, which is subject to Competition Commission approval.



At the general meeting held on 21 September 2005, the special resolutions to:

* increase the authorised share capital of the company by the creation of 20 000 000 preference shares; and

* amend the company`s articles of association to incorporate the rights, privileges, restrictions and conditions attaching to the preference shares were passed by the requisite majorities.

The ordinary resolution to place the new authorised but unissued preference shares under the control of the directors was also passed by the requisite majority. The special resolutions will shortly be lodged for registration with the Registrar of Companies.



The Competition Commission is still considering Massmart`s proposed acquisition of Moresport. As a consequence, Massmart will delay the issue of any preference shares until such time as the Competition Tribunal gives its ruling on the proposed acquisition. A further announcement will be made when more information is available.

25 Aug 2005 09:02:33
(C)
Massmart recorded sales of R26.6bn (R23.8bn), an 11.7% increase over the previous financial year. Net profit rose 18.7% to R607m (R511m) while headline earnings and earnings rose 16.4% and 18.7% to 341cps (293cps) and 305cps (257cps) respectively. A dividend of 72cps was declared for the period.



Prospects

While there has been a gradual downward trend in retail sales growth as reported by Stats SA since October 2004, Massmart`s strategies and budgets have been founded on the belief that the South African economy is being irrevocably transformed and that good retail growth will persist for some time, in the absence of a marked deterioration in exogenous factors - the oil price being of particular concern at present. The group plans to spend R495m in a capital expenditure programme planned for the current year, planned to add at least 147 388 square metres, in support of budgeted sales exceeding R30bn.
05 Aug 2005 10:08:01
(Official Notice)
Massmart shareholders` attention is drawn to the circular (7/2005), issued by the South African Institute of Chartered Accountants on 2 August 2005, entitled `Operating Leases`. In this circular, SAICA refers to Paragraphs 33 of IAS 17(AC105) and 9 of SIC 15 (AC415), which states,

`Lease payments under an operating lease shall be recognised as an expense on a straight line basis over the lease term unless another systematic basis is more representative of the time pattern of the user`s benefit.`



The Massmart board has resolved that with immediate effect, all Massmart operating lease charges in respect of rentals escalated at fixed rates will now be expensed on a straight-line basis over the period of the lease, disregarding the time-value of money or the economic substance of the lease, which is as required by this clarification. It is clear that the application of the straight-line basis will have a more material adverse impact on companies with a newer average lease profile than on those with an older average lease profile. Over time, as the average lease profile ages, the quantum of the reduction to headline earnings compared to cash earnings, will reduce and become positive. These accounting adjustments have no impact on Massmart`s cash flows or cash position. The adjustment to opening retained income of R369m plus the headline earnings adjustments will however have the effect of reducing shareholders` equity, thereby increasing Massmart`s gearing ratios and returns on equity.



The Massmart board will propose that the dividend for the year ending June 2005 be calculated on a two-times dividend cover before the adjustment referred to above. In the 2006 financial year the two-times dividend cover will be calculated on headline earnings after this adjustment, in line with the current dividend policy. Massmart`s reviewed results for the year to June 2005, including the above accounting adjustments, will be released on 25 August 2005.
06 Jul 2005 12:49:13
(Official Notice)
For the 52 weeks to June 2005, Massmart`s total sales, including acquisitions, were R26.6bn, 11.7% ahead of the 52 weeks to June 2004. Sales before acquisitions grew 9.4% and comparable store sales grew 5.3%. With overall group sales deflation of 2.2% (comprising 0% inflation in food and liquor and deflation of 4.9% in general merchandise), total volume growth of 13.9% was in line with our expectations. Real comparable store growth of 7.5% was achieved. Although the rate of sales growth has declined gradually in all divisions since October 2004, most of the decline in the rate of cumulative sales growth since that reported in Massmart`s interim results, is attributable to the groups previously communicated decision to move away from low return, higher risk business in Shield and Furnex in the Masscash division, which produced second half sales substantially below that of 2004.



The above information has not been reviewed or reported on by the companys auditors. Massmart`s preliminary results for the year to June 2005 will be released on 25 August 2005.
21 Jun 2005 12:15:53
(Official Notice)
Further to the SENS announcement of 12 May 2005, and the subsequent approval of Massmart`s acquisition of Federated Timbers, Servistar and De la Rey, by the Competition Commission on 8 June 2005, the group advises that from 1 July 2005, Builders Warehouse and Tile Warehouse, together with the above acquisitions will comprise a new division of Massmart named Massbuild. On its inception, Massbuild will be generating sales approaching R4bn in the year to June 2006.



Mr Joe (Gareth) Owens will be appointed chief executive of the new Massbuild division with Norman Kretzmer (Managing Director Builders Warehouse), Trevor Hartin (Managing Director Federated Timbers), Robbie Best (Managing Director De la Rey), John Keil (Managing Director Servistar) and Chris Crossman (Managing Director Tile Warehouse) reporting directly to him.



The board of Massbuild will comprise the above gentlemen, Grant Pattison, Guy Hayward, and Aubrey Cimring and will be chaired by the group deputy chairman and chief executive Mark Lamberti.



From 1 July Massmart will therefore comprise four divisions constituted as follows:

*Massdiscounters - Game and Dion

*Massbuild - Builders Warehouse, Federated Timbers, Servistar, De la Rey and Tile Warehouse

*Masswarehouse - Makro

*Masscash - CBW, Jumbo, Shield, Furnex and Cellshack
08 Jun 2005 16:04:03
(Official Notice)
With reference to the announcements of 24 February 2005 and 9 March 2005, Massmart announced that the Competition Tribunal, on 8 June 05, unconditionally approved Massmart`s acquisition of the companies trading as, De La Rey, Federated Timbers and Servistar. All suspensive conditions related to these acquisitions have therefore been met, and work will commence immediately on the integration of these businesses into Massmart and the implementation of those strategies directed at entrenching the group`s leadership position in the South African DIY and home improvement market.
06-Apr-2017
(X)
Massmart is a managed portfolio of four divisions, each focused on high-volume, low-margin, low-cost distribution of mainly branded consumer goods for cash, through 412 stores in 13 countries in sub-Saharan Africa. We are a South African retailer and wholesale distributor, with 346 stores in South Africa and 30 stores in other countries in sub-Saharan Africa.


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