How Much Money is Mr Price Making from Cellular

Mr-Price
Mr-Price

South Africa’s retailer Mr Price, which runs its mobile virtual network operator on a Cell C’s network since 2014, continues to make money from cellular and mobile.

Its services are becoming an alternative to your traditional mobile phone companies, such as Vodacom, MTN, and Cell C, etc.

However, MR Price is only known for its affordable and quality clothes.

You may wish to know the amounts of money the company is making from the lucrative cellular and financial services.

The retail group announced on Thursday that the insurance revenue of R81.1 million decreased 5.2% and cellular and mobile revenue increased 19.4% to R234.6 million.

The group also reported that South African retail sales rose 0.6% to R6.4 billion for the first four months of the financial year ending 28 March 2020

Store sales were up 0.2% and online sales up 31.1% to R109.1 million.

The Mr Price Apparel online channel achieved sales growth of 21.8%, Mr Price Home 40.8% and Mr Price Sport 31.3%. Sales in non-South African corporate-owned stores grew 0.3% to R522.3 million.

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