JSE-listed retailer Mr Price has reported remarkable performance for its cellular standalone stores, contributing to the group’s impressive R37.9 billion in revenues for the 52 weeks ending March 30, 2024, an increase of 15.5%.
Today, Mr Price said the Telecoms segment saw a 10.2% increase in retail sales, reaching R1.2 billion, with comparable sales growing by 1.5%.
The Telecoms segment sells cellular products and services.
Mr Price Cellular standalone stores continued to perform strongly, leading to the opening of 30 new standalone stores during the period.
The expansion brought the total footprint, including combo stores, to 804 locations. According to GfK, cellular handsets and accessories gained 80 basis points of market share.
Also read: Mr Price’s Financial Services Division Approaches R1 Billion In Revenue
Mr Price JSE-listed retailer Mr Price is on the brink of a significant financial milestone as its Financial Services Division approaches R1 billion in revenue.
The achievement emphasises the division’s rapid growth and key role within the company, highlighting Mr Price’s expanding footprint in the financial sector.
Mr Price announced today that its Financial Services segment revenue had risen by 4.8%, reaching R869 million. This growth is driven by a 12.1% increase in debtors’ interest and fees, attributed to a higher average debtors’ book and a 50 basis point increase in the repo rate over the period. Despite challenging economic conditions, the net bad debt to book percentage remains low compared to industry standards, and the group is adequately provisioned. Today, Mr Price released its full-year 2024 year-end results for the 52 weeks ending March 30, 2024. The company reported a 15.5% increase in revenue, reaching R37.9 billion. This performance includes contributions from the acquired Studio 88 Group (S88), effective from October 4, 2022. Excluding S88, revenue grew by 5.8% to R30.3 billion. The post Mr Price Cellular Standalone Stores Achieve Remarkable Performance appeared first on TechFinancials - Reliable Tech News.
