The Daily Update: 22 June

The latest updates from the JSE and NYSE over the past 24 hours.

South Africa

Mr Price Group Limited- Results for the year ended 1 April 2023 and cash dividend declaration

• Group revenue increased by 17.0% to R32.9 billion, aided by the acquisition of 70% of the Studio 88 Group.
• EBITDA increased by 5.4% to R7.2 billion, impacted by loadshedding during the festive trading months.
• Basic and headline earnings per share were down by 6.8% and 6.0% respectively.
• A final dividend of 447.1 cents per share was declared, maintaining a 63% payout ratio.
• Loadshedding heavily impacted the group's core trading divisions, resulting in a loss of approximately R1 billion in revenue.
• Group retail sales grew by 18.0% to R31.5 billion, with comparable stores decreasing by 3.4%.
• Total store sales increased by 18.5%, and online sales grew by 3.2%.
• The gross profit margin declined by 150 basis points to 39.5% due to higher markdowns and increased input prices.
• Total expenses increased by 21.2%, driven by the inclusion of Studio 88.
• The Apparel segment performed well, while the Homeware segment faced challenges from increased competition.
• The Telecoms segment and Financial Services segment showed revenue growth.
• Inventory growth was higher than planned due to trade disruption factors.
• The group ended the period with available cash of R1.4 billion and plans to invest in new stores and back-up power solutions.

STADIO Holdings Limited

• Distance Learning: 35 822 students, showing a 10% growth compared to the previous year.
• Contact Learning: 5 762 students, showing a 2% growth compared to the previous year.
• Total: 41 584 students, showing an overall growth of 8%.