MR PRICE GROUP LIMITED - Trading update for the 13 weeks ended 30 December 2017

Trading update for the 13 weeks ended 30 December 2017

Mr Price Group Limited
(Registration number 1933/004418/06)
Incorporated in the Republic of South Africa
ISIN: ZAE000200457
JSE share code: MRP
("Group" or "Company")

TRADING UPDATE FOR THE 13 WEEKS ENDED 30 DECEMBER 2017

During the third quarter (1 October 2017 to 30 December 2017)
of the financial year ending 31 March 2018 the Group recorded
growth in retail sales and other income (RSOI) of 8.3% to R6.9bn
over the corresponding period in the prior year (“Corresponding
Period”).

Corporate-owned and franchise stores generated total retail
sales of R6,6bn, an increase of 8.3%. Corporate-owned store
performance was as follows:

                  Total     Comparable                  RSP   Trading
                  Sales    Store Sales    Units   Inflation     Space
Apparel segment
MRP Apparel       11.3%           8.2%    10.2%       1.0%      3.6%
MRP Sport          2.2%          -6.5%     3.2%      -0.9%      6.6%
Miladys            6.2%           4.9%    -3.2%       9.7%     -0.3%
                  10.1%           6.8%     9.2%       0.8%      3.4%
Home segment
MRP Home           2.4%          -1.0%     3.8%      -1.4%      0.6%
Sheet Street       6.3%           4.0%     3.4%       2.9%      0.1%
                   3.6%           0.7%     3.7%      -0.1%      0.5%
Group              8.5%           5.3%     8.0%       0.5%      2.5%

On a Group basis, sales growth was consistent across each month,
and RSOI exceeded R3bn for the first time in a single month in
December 2017.

South African retail sales of R6.1bn grew 8.8%. Store sales were
up 8.8% and online sales up 12.2%, with divisional growth in
online sales in MRP Apparel, MRP Sport and MRP Home of 27.7%,
19.8% and 1.6% respectively. Non-South African sales increased
by 4.8% to R447.7m.

Cash sales were up 10.1%, constituting 84.4% of total sales. The
ongoing strained credit environment and consumers’ preference
to transact in cash resulted in credit sales growth of 0.9%
lagging that of cash sales.

Other income grew 8.2% to R307.7m, supported by growth in
cellular of 10.9% and insurance of 13.3%. As anticipated, fees
and interest derived from the credit portfolio recorded lower
growth at 6.4%.

Despite a competitive retail environment, well executed
merchandise offers resulted in lower markdowns and an improved
gross profit percentage over the comparable period.

Further momentum in sales growth has been gained for the two-
week period from 31 December 2017 to 13 January 2018, not
included in the analysis above.

The above-mentioned figures and any information contained herein
do not constitute an earnings forecast and have not been reviewed
and reported on by the Company’s external auditors.

Durban
17 January 2018

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 17/01/2018 05:05:00 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.