* Sees headline EPS 549.4 cents to 579.7 cents
* Shares fall more than 5 percent
JOHANNESBURG, Aug 7 (Reuters) – Massmart Holdings,
the South African unit of Wal-Mart, said on Tuesday
full-year profit likely rose as much as 34 percent, falling far
short of market expectations and sending its shares down more
than 5 percent.
South Africa’s third-largest reatiler by market value said
headline earnings per share in the year to end-June likely
totalled as much as 579.7 cents, or 34 percent higher than the
prior year’s 433.3 cents.
Six analysts polled by Thomson Reuters expected the company
to deliver 66 percent profit growth.
Shares in the Johannesburg-based company dropped as much as
5.1 percent shortly after the news. By 1103 GMT, the stock had
recouped some of losses to trade 3.2 percent lower at 169.83
cents.
On July 4, the Massmart said full-year sales increased 16
percent to 61.2 billion rand, a touch above analysts’ estimate
of 61.1 billion rand.
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