Top Story22/02/2012

Food retail fuels Massmart first-half profits

By Laura Durham
Heavy investment in organic space expansion and skills will grow Massmart’s food business to R20 billion.

That’s according to Massmart CEO, Grant Pattision, who presented the strong sales (up 15%) and headline earnings (up 21.2%) in its first six months as a subsidiary of retail giant, Walmart on Wednesday.

Investment for growth

CFO, Guy Hayward explained that the 4.8% increase in trading profit (excl. Forex and integration costs) ...

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