South African value fashion and homeware retailer Mr Price Group delivered a 6.5 percent increase in headline earnings for the 26 weeks ended September 30, according to Reuters, underscoring steady consumer demand despite a challenging trading environment. The company recorded 513 cents per share in headline earnings, up from 481.1 cents a year earlier, reflecting stronger sales performance across several divisions.
Revenue for the period rose 5.4 percent to R18.6 billion, while group retail sales grew 5.5 percent to R17.8 billion, a result the company said kept it ahead of broader market trends. According to its interim statement, the shift in school holiday periods boosted first quarter sales by 6.3 percent and supported market share gains.
The group noted that aggressive discounting in June affected profitability, with margins narrowing by about 20 basis points. Even so, store sales increased 5.4 percent and online sales accelerated by 9.7 percent, according to Reuters, highlighting continued growth in the company’s omni-channel strategy.
Mr Price also declared an interim dividend of 323.2 cents per share, up 6.5 percent from the previous year, signalling confidence in its financial outlook and operational momentum, Reuters reported.
Image Credit: Reuters.com
