Mr Price steals a march on competitors. The retailer says independent research confirms that consumers' perception of

its quality and fashion has improved relative to its competitors.

Mr Price says market share gains helped it grow earnings by close to 12% in a

tough retail environment.

Releasing half-year results yesterday, the retail group said independent

research confirmed that consumers' perception of its quality and fashion had

improved relative to its competitors and that its price positioning had been

further entrenched. Sales growth in its apparel and homeware segments were

ahead of the market for the period, which it says is a positive indication of

market shares gains. Chief financial officer Mark Blair said: "To deliver

double-digit earnings and dividend growths in a tough economic and retail

environment is a pleasing result."

Total revenue rose 7.8% in the 26 weeks to 29 September, with retail sales

growth of 6.6% to 9.7 rand billion. It grew income from financial services and

cellular by 24.7% to 801 rand million. Operating profit from its apparel segment

rose 11.2%, while homeware grew operating profit by 13.8% as its operating

margin improved to 14.3% from 13.4%. Headline earnings per share increased by

11.6% to 494.3c and it's raised its interim dividend by the same margin to

311.4c per share.

Declining GDP growth in South Africa and rising fiscal challenges, as noted in

the most recent medium-term budget speech, points to further challenging

trading conditions ahead for South African retailers," Blair said. "Despite

this, we remain confident that our fashion value business model is well

positioned to capture further market share."

Its shares rose 6.1% yesterday to close at 251.50 rand.

> Mr price good result earnings up 12%

>

> -- Wayne McCurrie (@WayneMcCurrie) November 22, 2018

> My yesterdays #mystockpick for the day is $MRP The retail environment is

currenntly highly competitive but Mr Price continues to provide value to

investors and consumers. #FNB . #DELAYED post

>

> -- HappinessIsMe (@Fez_Mbatha) November 22, 2018