Massmart business solid

PROFIT at Massmart, Africa's third largest distributor of consumer goods, was hit by the weakness of African currencies against the rand for the year ended June.

PROFIT at Massmart, Africa's third largest distributor of consumer goods, was hit by the weakness of African currencies against the rand for the year ended June.

But analysts were upbeat about the business which is seen as exceptionally well run.

RMB Asset Management analyst Evan Walker said: "It is tougher out there but they have a formidable business". - Adele Shevel

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