Mr Price shares leap after strong interim results
Mr Price’s share price rose as much as 5.3% after the clothing retailer delivered a 23.6% jump in interim diluted headline earnings per share to 434.1c. The share price rallied 3.68% to R201.99, its first close above R200 since August 2016. The Mr Price portfolio includes apparel, homeware and sportsware through company-owned and franchised stores, and online channels in Africa and Australia. The group said earnings growth was driven by Mr Price apparel, Miladys and financial services unit Mr Price Money. Total revenue rose 6.7% to R9.8bn for the 20 weeks to September. The group declared an interim dividend of 279c a share, up 22.3%.CEO Stuart Bird said the group was pleased with the resilience of the Mr Price business model and the dedication of associates. "They produced really solid results in extremely challenging trading conditions and I am proud of the way they have responded," Bird said. Associate portfolio manager at Kagiso Asset Management Simon Anderssen said Mr Price deli...
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