IOL Business – May 25th, 09:23
Mr Price Group extended gains after the clothing, furniture and linen retailer declared a dividend that beat estimates and said profit had climbed 21 percent.
The retailer had increased the dividend by 20 percent to R5.80 a share, the Durban-based company said in a statement on Friday. That compares with the R5.79 median estimate of 13 analysts surveyed. Earnings per share adjusted for one-time items rose to R8.65 in the year to March 28.
That compares with the R8.69 median estimate of 14 analysts surveyed. The stock increased by 0.91 percent to R247.25 at the close of the JSE on Friday.
Mr Price remains the worst performer on the 10-member FTSE/JSE Africa general retailers’ index, which has rallied 20 percent this year.