WATCH: Why Massmart withheld a dividend
Massmart CEO Mitchell Slape talks to Business Day TV about the group’s full-year results
Massmart has swung to an annual loss of more than R1bn.
This largely due to an impairment related to the group’s non-profitable stores in Massdiscounters and Masscash stores, including Game and DionWired. The divisions were hard hit during the period, with trading profit plummeting to a loss of R674m.
CEO Mitchell Slape joined Business Day TV for his analysis of the numbers and what it means for the group’s future growth.
Or listen to the full audio: