JOHANNESBURG Feb 27 South African retailer
Massmart met expectations with a one-third rise in
full-year profit on Thursday, boosted by an extra trading week
and favourable currency swings as debt-laden consumers rein In
The African unit of Wal-Mart Stores Inc said diluted
headline EPS totalled 608 cents in the year to end-December,
largely in line with a 600-cent estimate in a Reuters poll of 11
Headline EPS, the most widely watched profit measure in
South Africa, strips out certain one-off items. Excluding an
extra week and foreign exchange, headline EPS inched up 7.7
Sales rose nearly 10 percent to 72.5 billion rand ($6.70
Retailers in Africa's biggest economy are among the worst-
performing stocks in the past 12 months, reflecting investors'
fears about the impact on consumer spending of tepid economic
growth, rising fuel prices and high household debt.