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Johannesburg - Retailer Mr Price Group [JSE:MPC] said Thursday that for the six months ended September 2010 it expects basic and headline earnings per share to increase by between 45% and 55% and core headline earnings per share by between 55% and 65% over the comparable period.
It said these results have been generated by the continued strong profit growth of the Mr Price Apparel chain, which constitutes 55% of group sales, and improved operating performances by all other divisions.
Initiatives taken last year to enhance the profitability of the underperforming chains impacted favourably on the second half of the financial year ended March 31, 2010. As a result of the higher base, the company does not expect the same level of earnings growth in the second half of the current financial year.
Detailed interim results will be announced on November 18, 2010.
It said these results have been generated by the continued strong profit growth of the Mr Price Apparel chain, which constitutes 55% of group sales, and improved operating performances by all other divisions.
Initiatives taken last year to enhance the profitability of the underperforming chains impacted favourably on the second half of the financial year ended March 31, 2010. As a result of the higher base, the company does not expect the same level of earnings growth in the second half of the current financial year.
Detailed interim results will be announced on November 18, 2010.
