The Mr Price Group reported a 7.7 percent increase in net profit, reaching 1.82 billion rand for the first half of its financial year. Revenue grew by 5.4 percent to 18.6 billion rand, driven by a 2.1 percent rise in comparable store sales and the addition of 91 new outlets. Chief Executive Officer Mark Blair attributed this performance to the company’s diverse business model and its focus on customer needs.
The retailer’s expansion to a total of 3,100 stores and a 6.5 percent dividend hike to 323.2 cents per share highlighted its strong operational results. Its telecoms and Yuppiechef segments were noted as particularly strong contributors. The group maintained a dominant cash-sales model and continued to see growth in its online channel.
The retailer’s expansion to a total of 3,100 stores and a 6.5 percent dividend hike to 323.2 cents per share highlighted its strong operational results. Its telecoms and Yuppiechef segments were noted as particularly strong contributors. The group maintained a dominant cash-sales model and continued to see growth in its online channel.
