South Africa's Massmart posts 19 pct jump in H1 profit

JOHANNESBURG (Reuters) - Walmart's South African unit Massmart reported a 19 percent increase in half-year profit on Thursday as consumers delayed buying appliances, but kept spending on food and other non-durables, the company said. * Massmart posted diluted headline earnings per share beforeforex for 26 weeks to June 26 of 145.8 cents, up from 124.2cents. Headline earnings per share is the main profit measure inSouth Africa and strips out certain one-off items. * Sales for 26 weeks to June 26 rose 8.7 percent to 42.31billion rand. * In South Africa's zero growth economy consumers aredelaying purchases, trading down and reducing spending ondurable goods to support spending on semi- and non-durables,Massmart said. * "This has meant general merchandise sales have softenedwhile food sales have been stronger," the firm said. * For 34 weeks to August 21 2016, total sales increased by8.3 percent and comparable sales increased by 5.9 percent. * Massmart plans to open five new stores in the rest ofAfrica in the next two years, expanding in Ghana, Mozambique,Nigeria and Zambia. * Trading conditions in most non-SA countries where Massmarthas stores are unlikely to deteriorate further provided thereare no exogenous shocks, the company said. * Trading in 2017 could be relatively better than in 2016 ifrand currency strengthens, the company said. * Total dividend per share 74.1 cents down by 49.2 percent.Source text for Eikon: Further company coverage: [MSMJ.J] (Reporting by TJ Strydom; Editing by Muralikumar Anantharaman)