Mr Price boosted by improved perception
The retailer grew its interim dividend and earnings by more than 11%, which incoming CEO Mark Blair called a pleasing result in a tough environment
Improved consumer perception of Mr Price's quality and fashion helped it grow sales and profit in the first half of its 2019 financial year. The retail group declared an interim dividend of 311.4c in its results for the 26 weeks to September 29, released on Thursday morning. That is an 11.6% increase on its R2.79 interim dividend for the first half of its 2018 financial year. Commentary in the results statement was provided by CFO Mark Blair, who will succeed Stuart Bird as CEO on January 1. “Sales growth in our apparel and homeware segments was ahead of the market for the period, a positive indication of market share gains,” Blair said. “Independent research has confirmed that consumers’ perception of MRP’s quality and fashion has improved relative to our competitors, and that our price positioning has been further entrenched.” The group had 1,286 corporate-owned stores at September 29, 46 more than at the end of September 2017. Mr Price groups its various retail chains into four d...
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