Mr Price has hiked its final dividend by almost a fifth after reporting a strong second half characterised by extended market share gains.
The JSE-listed group increased revenue 15.5% to R37.9 billion in its year to end March, receiving a significant boost from its acquisition of Studio 88, also saying it managed to gain market share in three out of the four quarters in the year. Excluding the Studio 88 acquisition, which was effective from 4 October 2022 and not in the base in the first half, revenue would have grown a more modest 5.8% to R30.3 billion. Comparable store sales rose by 1.8%, and excluding Studio 88, they rose 6.2%South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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Woolies share price slides as it flags earnings dropLargely due to the once-off benefit from the sale of its David Jones business in Australia during the last financial year.
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