| Tue 3 May 2011, 8:00 | | MPC - Mr Price - Earnings forecast for the 53 week trading period ended 2 |
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MPC
MPC
MPC - Mr Price - Earnings forecast for the 53 week trading period ended 2
April 2011
Mr Price Group Limited
Registration number 1933/004418/06
Incorporated in the Republic of South Africa
ISIN: ZAE000026951
JSE share code: MPC
("Mr Price" or "the company" or "the group")
EARNINGS FORECAST FOR THE 53 WEEK TRADING PERIOD ENDED 2 APRIL 2011
As required by the JSE Limited Listing Requirements, a company is obliged to
announce once it is reasonably certain that its results will differ by more
than 20% over the corresponding reporting period. The company announced this
expectation on SENS on 7 March 2011. The company is currently in the process
of finalising its results for the 53 week trading period ended 2 April 2011
and is therefore able to forecast the range of earnings estimates with
reasonable certainty.
The company expects earnings per share ("EPS") to increase as follows:
Growth %
53 Weeks 52 Weeks
Basic EPS 48% - 53% 42% - 47%
Headline EPS 48% - 53% 42% - 47%
Core Headline EPS* 44% - 49% 39% - 44%
*Excludes adjustments relating to export partnerships
Retail sales for the period increased by 13%. Improved resourcing and lower
mark-downs have resulted in a higher gross margin percentage, while tight
expense control has further positively impacted results. The performance in
the second half of the year was very pleasing and most divisions achieved
significant increases in operating profit.
The debtors` book continued to be well controlled and the net write off to
book percentage has decreased over the comparable period.
Detailed results will be announced on SENS on 26 May 2011.
The above-mentioned figures and forecast financial information have not been
reviewed and reported on by the company`s external auditors.
Durban
3 May 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Mr Price Group Limited is a value retailer, selling fashionable products at
everyday low prices, predominantly for cash. The group operates 937 stores
in Southern Africa and 24 franchised stores in Africa. The five retail
divisions, Mr Price Apparel, Mr Price Home, Mr Price Sport, Miladys and
Sheet Street focus on clothing, footwear, sportswear, sporting goods,
accessories and homewares. The group employs approximately 18 000
associates.
Date: 03/05/2011 08:00:03 Produced by the JSE SENS Department.
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