South African retailer Massmart reported an almost 16% rise in full-year profit on Thursday, as the firm controlled costs and closed some of its less profitable stores in a tough economic environment. Massmart, majority-owned by Wal-Mart Stores Inc, posted diluted headline earnings per share of 587.6 cents for the 12 months to end-December, compared with 508.8 cents a year earlier.
Source: www.engineeringnews.co.za
Massmart reports 16% jump in FY profit
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