MR PRICE GROUP LIMITED - Trading Statement for the twelve-months ended 2 April 2022

Trading Statement for the twelve-months ended 2 April 2022

Mr Price Group Limited
Registration number 1933/004418/06
Incorporated in the Republic of South Africa
ISIN: ZAE000200457
LEI number: 378900D3417C35C5D733
JSE and A2X share code: MRP
("group" or "company")


TRADING STATEMENT FOR THE TWELVE-MONTHS ENDED 2 APRIL 2022

The group is presently finalising its annual financial results for the twelve
months ended 2 April 2022 (the Period). These will be announced on the JSE
Stock Exchange News Service (SENS) on Thursday 9 June 2022.

In accordance with the JSE Limited (“JSE”) Listings Requirements,
shareholders are advised that basic earnings per share (EPS) are expected to
be between 24% and 29% higher than the period 29 March 2020 to 3 April 2021
(Corresponding Period) and between 30% and 35% higher on a comparable 52-
week basis (Corresponding Period constituted 53-weeks). Included in the table
below is the comparison on both a 53-week and 52-week basis.

The group advises that it expects the annual results for the Period to fall
within the following ranges:

                        
                  Reported annual   Expected annual   Expected annual*
                         
                       03/04/2021      02/04/2022          02/04/2022

                        53 weeks     52 weeks on 53     52 weeks on 52
                                         weeks              weeks
                                          

                          cents      cents       %       cents      %


                                     1269.2    24.0%    1269.2    30.0%
Basic earnings            1023.6       to        to       to        to
Per share                            1320.4    29.0%    1320.4    35.0%
                                  


                                     1249.4    17.0%    1249.4    23.0%
Headline earnings         1067.9       to        to       to        to
per share (HEPS)                     1302.8    22.0%    1302.8    28.0%     

                                     

                                     1216.8    16.0%    1216.8    22.0%
Diluted headline          1049.0       to        to       to        to  
earnings per share                   1269.3    21.0%    1269.3    27.0%

                                    
The group’s performance for the Period was most notably influenced by the
following factors:

•   The group’s strong annual retail sales growth and solid operating
    performance, despite the civil unrest in July 2021 which resulted in the
    looting of 111 (approximately 7%) of the group’s 1 592 stores.
•   The acquisitions of Power Fashion (effective 1 April 2021) and Yuppiechef
    (effective 1 August 2021).
•   The Corresponding Period base effects:
       o FY2021 constituted 53 weeks in comparison to the 52 weeks in the
         Period;
       o In H1 FY2021 all the group’s South African stores were closed between
         27 March and 30 April 2020 due to the COVID-19 nation-wide lockdown;
       o In H2 FY2021 the group reported market leading sales growth and
         market share gains in the apparel, homeware and telecoms segments.

The group’s earnings performance outlined above includes the insurance
proceeds for asset write-offs incurred for stock, cash and fixtures as a
result of the civil unrest. The net gains from insurance proceeds relating
to fixtures have been added back for HEPS, however do not contribute a
material proportion of the difference between growth rates in basic and
headline earnings. The claims for business interruption losses relating to
this event continue to be assessed and it is anticipated that these
additional insurance receipts will be received in FY2023.


ANNUAL RESULTS PRESENTATION

A live webcast of the interim results presentation is scheduled for 09:00 am
on Thursday, 9 June 2022. This can be accessed through the following link:
https://www.corpcam.com/MrPrice09062022.


PRO FORMA INFORMATION*

The directors of the company are responsible for compiling the FY2021 52-
weeks financial information on the basis applicable to the criteria as
detailed in the JSE Listings Requirements and the SAICA Guide on Pro Forma
Financial Information and provided for illustrative purposes only. Due to
its nature, the FY2021 52-weeks financial information may not fairly present
the group’s financial position, changes in equity, results of operations and
cash flows.

The trading statement has not been reviewed or reported on by the company’s
external auditors.

Durban
26 May 2022

JSE Equity Sponsor and Corporate Broker
Investec Bank Limited

Date: 26-05-2022 07:05:00
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