Mr Price Group Limited - Trading Update
Mr Price Group Limited
(Registration number 1933/004418/06)
(Incorporated in the Republic of South Africa)
ISIN: ZAE000026951
JSE Code: MPC
TRADING UPDATE
The Mr Price Group today reported that trading in the third quarter was in line
with the expectations indicated at the interim stage.
Group sales for the third quarter ended 29 December grew by 20% off a base of
16% growth for the same period in the previous year. Sales in December grew by
18% off a base of 15% growth in the previous year. The cash division grew
sales by 21% for the month of December.
CEO Alastair McArthur said that the growth strategy launched earlier in the year
was proceeding well and that the expanded stores, most of which were in the Mr
Price Weekend Material chain, had performed well over the Christmas trading
period. McArthur added that the company was continuing to look for space to
expand stores in a number of locations and that the targeted number of 81 new
stores for the financial year would be achieved. This would bring the total
number of stores in the Mr Price group to 786. McArthur further added that the
recent strengthening of the Rand was a positive factor for a value retailer like
Mr Price and that if the trend in the currency was maintained, reductions in
prices across the group could be anticipated.
23 January 2003
Sponsor
Rand Merchant Bank a division of FirstRand Bank Limited
Corporate Finance
For further information, please contact either Athena Kyriacou on 082 931 6859
or Tamra Veley on 083 251 3658
Date: 23/01/2003 11:00:00 AM Produced by the JSE SENS Department
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