Massmart - the company in which Walmart intends to take a 51% stake before the end of March this year - has announced its preliminary financial results for the six months to the end of December, 2010.

Sales increased 13.3% to R27.5bn (£2.5bn). Like-for-like sales jumped 7.3%. The Mass discounters division - which includes the Game variety stores - posted the largest sales increase, with sales rocketing 14.4% during the period. Massmart shareholders approved the Walmart acquisition this week.

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