MR PRICE GROUP LIMITED - TRADING UPDATE
MR PRICE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1933/004418/06)
ISIN: ZAE000026951
Share Code: MPC
(`Mr Price` or `the company`)
TRADING UPDATE
Mr Price has announced that sales in the first four months of the new financial
year had grown by 8,2% compared with the same period in the previous year,
despite selling price deflation of 10%. Unit sales had increased by 20%.
Total sales reached R1,37 billion with comparable sales growing by 5,5%.
Sales growth in the Cash Division (Mr Price Weekend Material,
Mr Price Home and Sheet Street) was 7,8% with comparable sales increasing by
4,8%. Sales growth in the Credit Division (Miladys, Hub and Galaxy Jewellers)
was 9,5% with comparable sales growth of 7,9%.
Group operating margins had improved and profits were ahead of budgeted levels.
The improvement in the performance of the home chains (Mr Price Home and Sheet
Street) had continued into the new financial year.
Commenting on trading for the rest of the year, the company said that price
deflation was expected to have less impact as the base represented by the
previous year began to reflect the effect of purchases made with the stronger
rand. The positive earnings trend was expected to continue and the company
Durban
3 August 2004
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 03/08/2004 11:00:04 AM Produced by the JSE SENS Department
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
