Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      How South Africa’s banks became bakgat

      30 November 2023

      Putin’s daughter pursues digital plan in push to embrace Africa

      30 November 2023

      MTN slashes prepaid data prices: 200GB for R399

      30 November 2023

      Spar confident worst of ERP disaster now behind it

      30 November 2023

      Icasa takes aim at ‘illegal’ Starlink sales in South Africa

      29 November 2023
    • World

      ‘Go f… yourself’: Musk lashes out at fleeing advertisers

      30 November 2023

      Microsoft to take non-voting position on OpenAI board

      30 November 2023

      Hackers stole customer support data in Okta breach

      29 November 2023

      Orange withdraws from process to buy into Ethio Telecom

      28 November 2023

      Musk’s X hit by advertiser exodus

      27 November 2023
    • In-depth

      Africa has a feature phone problem

      23 November 2023

      Is your ISP monitoring your online activity?

      10 November 2023

      The real Big Brother Africa

      2 November 2023

      Compared: Starlink prices around the world – including Africa

      30 October 2023

      Africa is booming

      30 October 2023
    • TCS

      TCS+ | OneTrust’s Joseph Byrne: privacy risk management done right

      29 November 2023

      TCS+ | Ricoh – safe and secure role in today’s digital ecosystems

      27 November 2023

      TCS+ | NEC XON on going toe to toe with cybercriminals

      22 November 2023

      TCS | How ShotSpotter is fighting gun crime in Cape Town

      13 November 2023

      TCS+ | SOC-as-a-service: CYBER1 SOC and the future of cybersecurity

      13 November 2023
    • Opinion

      Could Cape Town become Africa’s Silicon Valley?

      14 November 2023

      Chris Kruger: What I learnt in my decades in IT leadership

      6 November 2023

      Ransomware attacks: how South African companies should respond

      6 November 2023

      Fibre providers urged to go ‘nano’ to cut costs

      31 October 2023

      Big banks, take note: PayShap should be free

      20 October 2023
    • Company Hubs
      • 4IRI
      • Africa Data Centres
      • Altron Document Solutions
      • Altron Systems Integration
      • Arctic Wolf
      • AvertITD
      • CallMiner
      • CoCre8
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • E4
      • Entelect
      • ESET
      • Euphoria Telecom
      • iKhokha
      • Incredible Business
      • iONLINE
      • LSD Open
      • Maxtec
      • MiRO
      • NEC XON
      • Next DLP
      • Paratus
      • Ricoh
      • Skybox Security
      • SkyWire
      • Velocity Group
      • Videri Digital
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • E-commerce
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Metaverse and gaming
      • Motoring and transport
      • Open-source software
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Mr Price Cellular shows stunning growth

    Mr Price Cellular shows stunning growth

    By Duncan McLeod9 June 2022
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    Mr Price Cellular, the mobile virtual network operator (MVNO) launched by Mr Price Group in 2017, has shown stunning growth in the past year, topping R1-billion in revenue for the first time.

    The Durban-headquartered retail group’s telecommunications segment grew revenue by 34.4% in the past year, to R1.2-billion, far outstripping the growth of the country’s established mobile operators.

    “Mr Price Cellular, launched in 2017, has reported exponential growth since inception and is now available in 374 stores with promising growth opportunities, most notably the roll-out of standalone stores,” the group said in its financial results for the 52 weeks ended 2 April 2022, published on Thursday.

    The retail group’s telecommunications segment grew revenue by 34.4% in the past year

    “Cellular handsets and accessories gained 130 basis points of market share, according to Growth for Knowledge (190 basis points including Powercell in Power Fashion), a significant gain considering the disruption caused by global supply-chain challenges and the civil unrest during the period,” it added.

    And it’s not only in cellular where Mr Price is excelling.

    The group said online sales jumped 48.2% in the past year, against high growth in the previous year of 64.1%, taking e-commerce sales to 2.9% of total retail sales (2.3% excluding acquisitions).

    “The group maintained its high customer engagement levels, which were best reflected by its online traffic market share increasing 70 basis points to 13.3%, the second highest behind Takealot among omnichannel and pure-play retailers.”

    Sales jump

    Overall, Mr Price Group reported full-year headline earnings per share up 20.1% (and more than a quarter on a directly comparable basis). Retail sales grew by 26%. The group opened 130 new stores, acquired seven others and reopened 96 of 111 stores that had been affected by last July’s riots in KwaZulu-Natal.

    It declared a final dividend up 25.9% to 807.7c/share.  – © 2022 NewsCentral Media

    Mr Price Mr Price Cellular Mr Price Group Mr Price Mobile MRP Mobile
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleMeteoroid crashes into $10-billion James Webb telescope
    Next Article Eskom unveils details of next stage of utility’s unbundling

    Related Posts

    How South Africa’s banks became bakgat

    30 November 2023

    DCA, Huawei and WBBA host Africa Fibre Forum 2023

    30 November 2023

    Accelerate innovation with platform engineering

    30 November 2023
    Promoted

    DCA, Huawei and WBBA host Africa Fibre Forum 2023

    30 November 2023

    Accelerate innovation with platform engineering

    30 November 2023

    NEC is Cisco’s infrastructure partner of the year for Emea

    29 November 2023
    Opinion

    Could Cape Town become Africa’s Silicon Valley?

    14 November 2023

    Chris Kruger: What I learnt in my decades in IT leadership

    6 November 2023

    Ransomware attacks: how South African companies should respond

    6 November 2023

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2023 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.