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Clicks posts small rise in half-year earnings

South African pharmacy chain Clicks Group reported a 1.1% rise in half-year earnings on Thursday, 20 April and forecast an up to 3% increase for the full year.
Source: Clicks Group
Source: Clicks Group

Clicks said diluted headline earnings per share (HEPS) for the six months ended 28 February totalled 472.2 cents, up from 466.9 cents a year ago.

The group said certain financial information for the prior period has been adjusted for the financial impact of the civil unrest in KwaZulu-Natal in 2021 and related insurance recoveries. Therefore, excluding insurance proceeds in the prior period, adjusted diluted HEPS rose by 10.2%, Clicks added. It forecast annual growth of 13% in adjusted diluted HEPS and 3% in diluted HEPS.

Clicks has also excluded Covid-19 vaccinations in turnover, to report turnover growth of 6.8% at R20bn for the half-year period. But including the jabs, turnover rose by 2.3%, reflecting a sharp fall in Covid-19 vaccinations.

Retail turnover excluding Covid jabs increased by 11.9%, with Clicks reporting market share gains in all product categories.

"Growth in Clicks was driven by the sustained post-Covid recovery in the beauty and personal care categories, supported by the Clicks ClubCard loyalty programme which passed the 10 million active member milestone," chief executive Bertina Engelbrecht said.

Performance at United Pharmaceutical Distributors (UPD) - its bulk and wholesale division - was impacted by a lower increase in the regulated single exit price of medicines granted by the Department of Health and operational challenges during the systems transition at three of its distribution centres.


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About Nqobile Dludla

Reporting by Nqobile Dludla; Editing by Mark Potter

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