Massmart expects its headlines earnings per share (HEPS) to climb by between 20 percent and 30 percent for its financial year ended June 2006, the group said on Tuesday.

In a trading update, it said its attributable earnings per share are expected to rise by up to 50 percent above the equivalent restated figure for June last year.

Sales growth also continued during the second half of the financial year, with full year sales coming to R30.1-billion, which is 15.2 percent higher than the previous year.

According to the group, sales inflation remained low, estimated at 1.6 percent. Although inflation in food and liquor came to 4.3 percent, general merchandise saw deflation of 1.0 percent. This made its results even more pleasing, the group said.

"Recent macro economic developments have not altered the board's positive view on Massmart's prospects for the year to June 2007," it said in a statement.

Massmart's full year results will be published on August 24.

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