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Mr Price books record profit and reports market share gains

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The retailer says its value offering, acquisitions and market share gains helped lift operating profit above R4bn for the first time

Fashion retailer Mr Price says strong interest from SA’s shoppers in the value of its offerings and a bigger footprint helped it achieve a record R4.95bn in operating profit in its 2022 year, but consumers are still under strain and input inflation is approaching double digits.

Revenue rose 23% to R28.1bn in the year ending April 2, Mr Price reported on Thursday, with net profit up 26.4% to R3.35bn, as all divisions in its apparel segment reported their best fourth-quarter market share gains on record...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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Mr Price books record profit and reports market share gainsThe retailer says its value offering, acquisitions and market share gains helped lift operating profit above R4bn for the first time
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