|
MPC
MPC
MPC - Mr Price Group Limited - Trading Update For Third Quarter (Q3 2010)
Mr Price Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004418/06)
ISIN: ZAE000026951
Share Code: MPC
("Mr Price Group" or "The Group" or "the company")
TRADING UPDATE FOR THIRD QUARTER (Q3 2010)
During the third quarter (October, November and December) of the financial
year ending 31 March 2010, Mr Price Group recorded sales growth of 8.4%. The
Group achieved sales growth of 6.2% and 6.4% in October and November
respectively. The growth achieved in December was 10.8%. Comparable sales,
which include sales of expanded and relocated stores in like-for-like
locations, grew by 5.7% for the quarter and by 8.5% in December. Sales to
franchised stores are excluded from these comparisons.
Group sales for the quarter were in line with expectations which took into
account the recession and the very high base in the same quarter in the
previous year when comparable sales were over 15%. Inflation for the period
was 5.1% and cash sales constituted 84.6% of total sales. Gross margins were
also in line with expectations.
The Apparel Division (Mr Price, Mr Price Sport and Miladys), which represented
73.4% of sales, achieved sales growth for the quarter of 10.4% (December
12.7%) with comparable sales growth of 6.6% (December 9.7%). Weighted average
space increased by 7.0% and inflation of 3.6% was recorded for the quarter.
The Home Division (Mr Price Home and Sheet Street), which represented 26.6% of
sales, continued to be affected by the reduced consumer spend on durable and
semi-durable products which includes homewares. Sales growth of 3.2% (December
5.3%) and comparable sales growth of 3.4% (December 5.2%) was recorded.
Weighted average space increased by 2.0% and inflation of 8.4% was recorded
for the quarter.
The debtors` book remained well controlled from both a credit granting and a
collections perspective, resulting in bad debt levels improving slightly on
that reported for the half year ended 30 September 2009.
The financial figures above have not been reviewed and reported on by the
company`s auditors.
Durban
14 January 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/01/2010 08:00:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
