Mr Price shares jump over 8%

Shares in Durban-based apparel and homeware retail giant Mr Price jumped over 8% yesterday, following the group's release of robust half-year results ending 28 September this year.

- Terri-Ann Brouwers

While revenue increased 5.2% to R17.6 billion and basic and headline earnings per share rose by 7.3% and 7.1%, respectively, the group reporting double-digit sales growth in recent months, market share gains and increased margins buoyed the stock.

Mr Price said it had expanded its gross margin by 110 basis points (bps) to 39.7% during the period.

It declared an interim dividend of 303.6 cents per share, up 7.1% compared with the corresponding half-year.