Excluding forex, earnings would be between 5% lower to 3% higher, or in a range of 374.4 cents to 405.9 cents per share.
It also advised that headline earnings would be between R865.2 million and R924.4 million, or between 17 and 25% higher. Excluding forex, earnings would be in a range of R804.7 million and R868.4 million, or 1-9% higher.
The company said the reason for the lower growth rates for the per share figures was due to the higher number of issued shares following the implementation of the Wal-Mart transaction in June 2011.
The group said its results should be interpreted in the context of the Massmart
CEO's statement at the Massmart AGM in November that "we expect the group's sales performance to continue to be strong, supported by our investments in price, growth, capacity and integration.
"These investments are however, expected to put downward pressure on operating profit, before foreign exchange translation, in the short-term, particularly for the half-year to December 2011."
Massmart's interim results will be released on 22 February.
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