South Africa's Massmart reports drop in earnings

JOHANNESBURG (Reuters) - South African retailer Massmart reported a 26.4 percent drop in half-year earnings on Thursday as foreign exchange losses and higher interest payments from property acquisitions hit profits. Massmart, majority-owned by Wal-Mart Stores Inc, said diluted headline earnings per share fell to 122.4 cents in the six months ended June compared with 166.4 cents a year earlier. ...