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Massmart - Sales update for the 52 weeks to June 2005

Release Date: 06/07/2005 12:30
Code(s): MSM
Wrap Text

Massmart - Sales update for the 52 weeks to June 2005 Massmart Holdings Limited (Incorporated in the Republic of South Africa) (Registration Number: 1940/014066/05) Share code: MSM ISIN: ZAE000029534 ("Massmart" or "the Company") Sales update for the 52 weeks to June 2005 For the 52 weeks to June 2005, Massmart"s total sales, including acquisitions, were R26.6 Billion, 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 pleasing. 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 Group"s 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 Company"s auditors. Massmart"s preliminary results for the year to June 2005 will be released on 25 August 2005. Johannesburg 6 July 2005 Sponsor Deutsche Securities (SA) (Pty) Ltd Date: 06/07/2005 12:30:03 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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