South African retailer Massmart has reported on a 16 per cent rise in full-year sales this week, boosted by the inclusion in its results of newly-acquired stores.
The discounter, which is majority-owned by US giant Walmart, said that sales for the year-long period ended 24 June came in at R61.2bn (€6bn).
All four of the group's divisions posted sales growth, with its wholesale Makro business adding 20.1 per cent, Reuters said.
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