Retailer Massmart reported its annual results on Thursday. Recording a slump of more than 31% in headline earnings. The slump is due to lower-than-expected sales and a higher expense growth. As a result, the group has slashed its dividend by more than 40% to 208c. CEO Guy Hayward joined Business Day TV to give the nitty-gritty behind the numbers.

Or listen to the full audio:

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now