Massmart surges over 8%, as turnaround gains traction
Sasfin senior equity analyst Alec Abraham told Moneyweb that the group’s turnaround strategy has great potential to bring it back to profitability in the short term. “The Massmart turnaround plan continues to be implemented as scheduled and management is confident that despite the recent headwinds, the strategic growth initiatives announced are bearing fruit and we fully expect this to gain momentum and continue in the medium- to long term,” the group said in its Sens statement.