Profit surge for Mr Price
Fin24 - May 4th 2011, 11:27
Johannesburg - Shares in Mr Price Group [JSE:MPC] rose more than 2% in early trade on Tuesday after the discount clothing retailer forecast as much as a 53% rise in full-year profit.
Mr Price's stock was 1.22% higher at R68.02 in morning trade, giving up some of its earlier gains after jumping as high as R68.65.
The company said headline earnings per share, the primary profit gauge, likely rose by between 48% to 53% in the 53 weeks to end April as cash-strapped consumers flocked to its no-frills stores.
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