July 30, 2018 / 6:40 AM / 3 months ago

South Africa's Massmart warns H1 profit could fall 26 pct

JOHANNESBURG, July 30 (Reuters) - Massmart Holdings expects half-year profits to fall by as much as 26 percent, the South African retailer said on Monday citing muted sales growth.

It expects headline earning per share (HEPS) excluding costs for restructuring at Massdiscounters and Masscash of 124.7-141.5 cents per share for the six months to June 30, down from a restated 168.5 cents a year earlier.

HEPS strips out certain one-off items and is the main profit measure in South Africa.

Massmart this month reported a 1.9 percent rise in sales while comparable store sales rose just 0.2 percent for the 26 weeks to July 1.

Its Massdiscounters unit includes general merchandise discounter Game and high-tech retailer DionWired. Its Masscash unit comprises CBW, Jumbo and Shield. (Reporting by Tanisha Heiberg; editing by Jason Neely)

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