Mr Price Group Ltd., (MPC) a South African clothing, furniture and linen retailer, said annual earnings per share climbed as much as 23 percent, more than double the gain expected by 14 analysts. The shares rose to a record.
Earnings per share excluding one-time items in the 52 weeks through March rose by at least 18 percent compared with the 53 weeks through April 2 last year, the Durban, South Africa-based company said in a stock-exchange filing today.
Mr Price expects so-called headline earnings per share in the range of 4.94 cents to 5.15 cents, according to Bloomberg calculations based on the percentage increases provided by the company. The analysts’ mean estimate for the period is 4.63 cents, or a gain of 10.6 percent, according to data compiled by Bloomberg. The retailer’s earnings have beat estimates five times in the past six announcements.
The shares gained as much as 1.9 percent to 107.20 rand and were trading at 106.61 rand as of 10 a.m. in Johannesburg. That extends its advance over the past 12 months to 58 percent, compared with a 32 percent increase in the FTSE/JSE Africa General Retailers Index. (JGENR)
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