Massmart Holdings Limited provided sales results for the first 19 weeks of 2018. Sales were ZAR 31.4 billion represented total growth of 0.8% and comparable to negative sales growth 0.5%, with year-to-date product deflation of 0.8%.

It is estimated with reasonable certainty that for the six-month period to June 2018, the group's EBIT, before taking the restructure costs into account, will be approximately 25% to 35% below the equivalent figure to June 2017 (being ZAR 825 million which has been restated due to Massmart changing the basis of accounting for rebates in the prior year).

For the year 2018, excluding the restructure costs, headline earnings are estimated at ZAR 196.9 ­- 233.4 million; HEPS are estimated 91.0 ­ 107.8 cents; earnings are estimated at ZAR 195.7 ­- 232.7 million; Basic EPS of 90.4 ­- 107.5 cents. The company predicts sales performance for the remainder of the financial year but assuming it improves slightly then it is estimated that the Group's EBIT for the year to December 2018 will be at a similar level as the prior year (on a 52-week basis) before accounting for the restructure costs. The company anticipates that the remaining 2018 sales environment may improve as commodities' deflation abates and the impact of recent real wages increases filters into the South African economy.

For the year 2018, including the restructure costs, headline earnings are estimated at ZAR 116.7 - 153.2 million; HEPS are estimated 53.9 - 70.8 cents; earnings are estimated at ZAR 114.5 - 151.4 million; Basic EPS of 52.9 -­ 69.9 cents.