Mr Price earnings jump 22%
FMCG SUPPLIER NEWS
Fin24/ Reuters - Nov 13th, 14:36
Johannesburg - Retailer Mr Price on Tuesday posted interim earnings growth of 22% because of sales growth and said it plans to open over 40 stores in the second half of the year.
Mr Price said diluted headline earnings per share rose to 283.6 cents for the six months to end September from 232.5 cents last year.
The company's total revenue, which includes retail sales and other income, rose 14.8% to R7.2bn.
Mr Price said it plans to open 43 stores in the second half of the year after opening 12 stores in the first six months. Two of its recently opened stores were in Nigeria, where Woolworths is pulling out.
The firm's shares were up over 2% at 150.24 rand at 14:30, outperforming the Top 40 index which was 0.35% lower.From Fin24.com
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Mr Price GroupMr Price Group is a fashion value retailer, selling predominantly for cash. Mr. Price Group is one of the fastest growing retailers in South Africa, and operates in the Women's clothing stores sector. Mr Price Group Limited is engaged in the business...Click here to read more about Mr Price Group |
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