Fi­nance chief sells R500 000 of shares

The Star Early Edition - - COMPANIES -

MR PRICE Group’s chief fi­nan­cial of­fi­cer, Mark Blair, sold shares in the com­pany worth R500 000 on Tues­day. How­ever, the stake is a frac­tion of his en­tire hold­ing. This was the same day that the com­pany re­ported a lack­lus­tre trad­ing up­date, which saw its stock lose some ground be­fore re­cov­er­ing to end the day at R156. Yesterday it was trad­ing as much as a 1.6% lower when com­pared with its open­ing price. Blair sold 3 230 shares on the open mar­ket at a price of R158.50 in a deal worth R511 955. Mr Price said on Tues­day that in­come grew 0.4% in the three months to De­cem­ber, while in­fla­tion was above 10%. The com­pany said to­tal sales came in at R6.4 bil­lion, while re­tail sales were R6.1bn, 0.5% lower year on year. Strip­ping out the bonus of 53 weeks in the year to April, Mr Price said sales growth in its wholly-owned stores were be­tween 5% and mi­nus 0.6%. Ex­cept for Sheet Street, all its brands had a com­pa­ra­ble store sales fall. On the same like-for-like ba­sis, monthly sales growth im­proved in fes­tive sea­son trade. Group sales in De­cem­ber rose 3.9%. – Busi­ness Re­port On­line, go to www.bus­rep.co.za

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