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MSM - Massmart Holdings Limited - Trading Statement for the six months to 25 December 2011 Massmart Holdings Limited (Incorporated in the Republic of South Africa) (Registration Number: 1940/014066/06) Share code: MSM ISIN: ZAE000152617 ("Massmart" or "the Company") Trading Statement for the six months to 25 December 2011 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 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). Headline earnings and HEPS excluding the net foreign exchange translation amounts are also shown in the table. Expected Actual Expected Ranges December 2010 % Change December 2011
Rm`s Earnings 864.0 - 923.1 738.5 17.0 - 25.0 Headline earnings 865.2 - 924.4 739.5 17.0 - 25.0 Headline earnings 804.7 - 868.4 796.7 1.0 - 9.0 excluding forex Cents Basic EPS 401.8 - 431.1 365.3 10.0 - 18.0 HEPS 402.4 - 431.6 365.8 10.0 - 18.0 HEPS excluding forex 374.4 - 405.9 394.1 (5.0) - 3.0 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. The Group`s results should be interpreted in the context of the Massmart CEO`s statement at the 23 November 2011 Massmart AGM that: "we expect the Group`s sales performance to continue to be strong, supported by our investments in price, growth, capacity and integration. These investments are however, expected to put downward pressure on operating profit, before foreign exchange translation, in the short-term, particularly for the half- year to December 2011." The above information has not been reviewed or reported on by the Company`s auditors. Massmart`s reviewed interim financial results for the six months to 25 December 2011 will be released on 22 February 2012. Johannesburg 31 January 2012 Sponsor: Deutsche Securities (SA) (Proprietary) Ltd Date: 31/01/2012 09:03:31 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
