Fashion and homeware retailer Mr Price Group on Wednesday reported a 16 percent rise in full year diluted headline EPS, but said it expected trading conditions to be challenging. The company said diluted headline earnings per share for the year to end March stood at 244.6 cents. Retail sales rose 19.3 percent to R8.6 billion, while sales at its core clothing unit climbed 24 percent to R4.5 billion.
The group said it had opened 58 new stores during the year, resulting in the creation of 400 full-time jobs.
Retailers have been struggling as consumers in Africa's biggest economy rein in spending to cope with relatively high interest rates and inflation.
But retailers like Mr Price that target the lower end of the market are faring better than more upscale rivals such as Truworths or Foschini, as hard-pressed customers opt for cheaper products.