MPC - Mr Price Group Limited - Trading update to 24 August 2011

MPC - Mr Price Group Limited - Trading update to 24 August 2011                 
Mr Price Group Limited                                                          
Registration number 1933/004418/06                                              
Incorporated in the Republic of South Africa                                    
ISIN: ZAE 000026951                                                             
JSE share code: MPC                                                             
("Mr Price" or "the company" or "the group")                                    
TRADING UPDATE TO 24 AUGUST 2011                                                
For the first four months of the financial year ending 31 March 2012 (18        
weeks to 6 August 2011), Mr Price reported total sales growth of 9.2% and       
comparable sales growth of 6.7%. Inflation of 5.6% was recorded and, as a       
result of the company opening 29 and closing 37 stores, weighted average        
trading space decreased by 0.7%. In the future, new and expanded space is       
expected to well exceed planned space reductions. Cash sales constituted        
81.6% of total sales. Monthly sales growths were: April 2011 15.8%, May         
10.5%, June 2.8% and July 6.6%. This irregular pattern is due to the high       
sales base arising from the extended school holidays associated with the        
FIFA 2010 World Cup in June and July 2010. Sales growth of 12.0% has been       
recorded for the period 7 to 24 August 2011.                                    
The Apparel Division, which represents 71.5% of group sales and which           
comprises Mr Price, Mr Price Sport and Miladys, reported sales growth for       
the period of 9.1% and comparable sales growth of 5.3%. Inflation of 5.2%       
was recorded and trading space increased by 1.5%.                               
The Home Division, comprising Mr Price Home and Sheet Street recorded sales     
growth of 9.2% and an increase in comparable sales of 10.1%. Inflation of       
6.6% was recorded and trading space decreased by 4.2%.                          
The above-mentioned figures do not constitute an earnings forecast and have     
not been reviewed and reported on by the company`s external auditors.           
Durban                                                                          
26 August 2011                                                                  
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 26/08/2011 08:00:07 Supplied by www.sharenet.co.za                     
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.