S.Africa's Massmart forecasts annual loss, to reorganise business

(Corrects typographical error in paragraph 2)

Jan 30 (Reuters) – South Africa’s Massmart Holdings on Thursday forecast a loss for the full-year as its mainstay general merchandise business faced tough trading conditions in the second half.

The company expects to report headline loss per share, excluding the impact of adopting accounting standard IFRS 16, between 342.9 cents and 384.5 cents for the year ended Dec. 29. Headline EPS is the main profit measure in South Africa and strips out certain one-off items.

Massmart, which said it will reorganise four of its businesses into two divisions, also expects to take an impairment charge between 200 million rand to 250 million rand ($13.95 million to $17.44 million) before tax.

$1 = 14.3325 rand Reporting by Tanishaa Nadkar in Bengaluru; Editing by Aditya Soni

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