Mr Price Group’s share price surges as half-year sales exceed market expectations

Amidst a challenging retail landscape, Mr Price Group has reported strong half-year results that have significantly outperformed the market and its share price surged over 6.7% on Thursday. The value retailer’s sales for the 26 weeks ending September 27 saw total revenue rise by 5.4%, reaching R18.6 billion. Retail sales growth of 5.5% surpassed the market’s growth of 5.3%, as highlighted in statements from the company’s directors. As the country’s economic pressures continue to shape consumer behaviour, CEO Mark Blair on Thursday expressed pride in the company’s ability to expand its gross profit margin by 30 basis points to 40%.