Massmart's earnings up at least 46.4%

14 Aug 2013

Retail group Massmart‚ which is owned by US retailer Walmart‚ advised on Tuesday (13 August) that headline earnings for the 26 weeks ended 23 June are expected to be between R470.8m and R506.2m compared with R321.5m for the previous period - representing an increase of between 46.4% and 57.4%.

This translates into headline earnings per share of between 218 cents and 234.3 cents compared with 148.9 cents previously.

Headline earnings before foreign exchange are expected to be between R368.4m and R416m‚ which are 14.9% and 3.9% respectively below the R433m for the previous comparable period.

Headline earnings per share before foreign exchange are likely to be down by the same margin at between 170.8 cents and 192.8 cents from 200.6 cents.

Basic earnings are expected to be between R466.1m and R496.9m compared with R280m previously. This represents an increase of 66.2% and 77.2% respectively, equivalent to 216 cents and 230.3 cents.

Greater detail will be provided when Massmart's final figures are released.

Source: I-Net Bridge

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