MPC
MPC
MPC - Mr Price - Second Half Trading Likely To Be `More Challenging`
Press Release
MR PRICE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1933/004418/06)
Share Code: MPC
ISIN: ZAE000026951
("Mr Price" or "the company")
PRESS RELEASE: SECOND HALF TRADING LIKELY TO BE `MORE CHALLENGING`
(Durban, Monday 3 September 2007) South African value retailer Mr Price has said
that trading in the second half of the financial year ending March 2008 was
expected to be more challenging.
At the AGM of the company on 31 August, the company said that the new Credit
Act, coupled with higher interest rates and more expensive fuel, would make it
more challenging for the general retail trade to maintain the strong growth rate
of the past three years which has been rated as an exceptional period by all
industry players.
The company said the challenge for retailers would be to maintain sound growth
in earnings in a tougher trading climate.
"Because of our primarily cash value retailing model and limited exposure to
retail credit, the Mr Price Group should be able to weather the slower growth in
consumer spending better than most. We continue to expect an increase in
earnings for the year," said Stewart Cohen, Joint Chairman of the Mr Price
Group.
Durban
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 03/09/2007 15:53:01 Produced by the JSE SENS Department.
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