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. ..