Profits narrow at Massmart

|By:, SA News Editor

Massmart reports 1H profit fell 26% Y/Y to 364M rand ($34.3M) on revenue of 35.8B rand ($3.37B).

Comparable-store sales rose 7.1% during the half-year.

The company cited a mining strike in South Africa which has impacted consumer spending for low and middle-income families.

The South African consumer goods seller is owned by Wal-Mart (NYSE:WMT).