Strong cash balance helps Mr Price’s share price
DURBAN – Mr Price Group strengthened more than 13percent on the JSE yesterday on a strong cash balance, despite the group posting an 8 percent headline earnings loss in the 26 weeks ended on September 28.
The group said normalised diluted headline earnings per share also fell 7.2percent to 447.5cents and normalised basic earnings per share eased 7.9percent to 455.4c.
It said total revenue, however, grew 2.6percent to R10.8billion, with retail sales up 1.7percent to R9.9bn.
The group said excluding Mr Price Apparel, revenue and retail sales increased 7.3percent and 6.1percent respectively.
Sales in Mr Price Apparel declined 1.3percent to R5.8bn.
Source: iol.co.za