CHAMWE KAIRA
Mr Price Group’s Namibian business recorded higher intra-group sales and increased administration fee income during the 2026 financial year, while the South African retail group continued expanding its presence in the country through its traditional retail brands and the Studio 88 chain.
According to the group’s annual financial statements for the year ended 28 March 2026, sales to its Namibian subsidiary, Mr Price Group (Namibia) (Pty) Ltd, increased to N$570 million from N$530 million in the previous financial year.
Administration fees received from the Namibian operation also rose to N$79 million, up from N$64 million a year earlier.
Mr Price Group (Namibia) (Pty) Ltd operates the Mr Price, MrPrice Home, Miladys, Sheet Street and Mr Price Sport brands in Namibia. The group also owns Studio Eighty-Eight (Pty) Ltd, which operates Studio 88 stores in the country.
The report indicates that net indebtedness relating to the Namibian subsidiary increased to N$141 million at the end of the financial year from N$130 million in 2025.
Across the group, revenue increased to N$42.65 billion from N$40.93 billion in the previous year, while net profit rose to N$3.85 billion from N$3.79 billion.
During the year, Mr Price increased its stake in Blue Falcon Trading 188, the owner of Studio 88, from 76% to 85% through a N$770 million acquisition.
After the reporting period, the group completed the purchase of the remaining 15% for N$1.66 billion, giving it full ownership of the Studio 88 business.
The company also completed the acquisition of European value retailer NKD Group after year-end for €477 million (about N$9.39 billion), marking its expansion into Central and Eastern Europe.
Mr Price said its African operations continue to include businesses in Namibia, Botswana, Lesotho, Zambia, Kenya, Ghana and Eswatini, alongside its South African operations.
The group said it operated 3182 corporate-owned stores and 13 franchised stores elsewhere in Africa, alongside its online retail channels.
Its businesses span apparel, footwear, sporting goods, accessories, homeware and financial services.
Mr Price declared a final dividend of 592.8 cents per share, payable in July 2026, following an interim dividend of 323.2 cents per share paid in December 2025.
