Trading statement for the six-months ended 2 October 2021
Mr Price Group Limited
Registration number 1933/004418/06)
Incorporated in the Republic of South Africa
LEI number: 378900D3417C35C5D733
JSE and A2X share code: MRP
("group" or "company")
TRADING STATEMENT FOR THE SIX-MONTHS ENDED 2 OCTOBER 2021
The group is presently finalising its interim financial results
for the six months ended 2 October 2021 (the Period). These will
be announced on the JSE Stock Exchange News Service (SENS) on or
about Thursday 25 November 2021.
Shareholders are advised that headline earnings per share (HEPS)
is likely to be between 30% and 40% higher than the period 4 April
to 26 September 2020 (Corresponding Period) and normalised HEPS
between 40% and 50% higher (as detailed below), as reflected in
the table below.
The group’s anticipated increase in HEPS for the Period is
attributed to an improved retail trading performance against the
Corresponding Period. In this affected base, all the group’s South
African stores were closed during the nation-wide lockdown between
27 March and 30 April 2020, with additional subsequent trading
restrictions enforced due to the COVID-19 pandemic. HEPS declined
24.8% in this Corresponding Period.
As a result, the group advises that it expects the interim results
for the Period to fall within the following ranges:
Reported interim Expected interim
cents cents %
Basic earnings per share 421.2 to 45% to
290.5 450.3 55%
Headline earnings per 433.6 to 30% to
share 333.5 466.9 40%
Normalised headline 466.9 to 40% to
earnings per share 333.5 500.3 50%
NORMALISED HEPS (HEPS excluding incurred losses for stock, cash
As previously reported on 14 July 2021 and 21 July 2021, the civil
unrest throughout the province of KwaZulu Natal and parts of
Gauteng in July 2021, resulted in the looting of 111 (approximately
7%) of the group’s 1 592 stores. As a result, the group’s earnings
performance as outlined above includes asset write-offs incurred
for stock, cash and assets.
Excluding these asset write-offs incurred because of this event,
normalised HEPS is expected to be between 40% and 50% higher than
the Corresponding Period.
An interim insurance payment of R181 million (including VAT) was
made by SASRIA post the Period. This has resulted in a timing
difference between asset write-offs and the receipt of insurance
The group continues to carry the costs of the looted stores since
the looting despite not being able to trade and generate income.
The associated business interruption losses continue to be
assessed and the group anticipates further insurance payments to
be received in H2 FY2022 and H1 FY2023.
INTERIM RESULTS PRESENTATION
A live webcast of the interim results presentation is scheduled
for 09:00 am on Thursday, 25 November 2021. This can be accessed
through the following
The normalised HEPS is considered to be pro forma financial
information in terms of the JSE Listings Requirements. This
information is the responsibility of the group’s directors, has
been prepared for illustrative purposes only and may not fairly
present the group’s financial position, changes in equity, cash
flows or results of operations.
The forecast financial information on which this trading statement
is based has not been reviewed and reported on by the company’s
3 November 2021
JSE Equity Sponsor and Corporate Broker
Investec Bank Limited
Date: 03-11-2021 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.