Shares in Mr Price benefit from upbeat announcement
By Robert Laing - Nov 7th 2017, 10:21
Retail group Mr Price’s share price jumped 11% to R169.99 on Tuesday morning after it said interim earnings grew by up to 25%.
Mr Price said it expected to report on November 20 that its basic and headline earnings per share for the 26 weeks to September 30 grew between 20% and 25%.
Besides its flagship Mr Price clothing chain, the group owns Miladys, Sheet Street and MRP Home. It focuses on selling for cash, which appears to have given it an advantage in a tough consumer environment over rivals reliant on advancing customers credit.
Competitor TFG recently reported growth of 1.6% in its headline earnings per share (HEPS) for the six months to end-September.© BusinessLIVE MMXVII
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