South African retailer New Clicks Holdings reported a 28% rise in diluted full-year headline earnings per share (EPS), lifted by strong sales at its Clicks drugstores and share buybacks.
New Clicks said turnover from continued operations rose 12,2% to R11,3-billion with prices rising 3,9%. Diluted headline EPS increased to 131,9 cents.
South African retailers have been struggling to maintain robust profit growth as higher interest rates and inflation dents consumer spending, but New Clicks said the defensive nature of its Clicks stores helped it gain market share.
It said that, barring any marked deterioration in trading conditions, it expects to report ”real earnings growth” in the 2009 financial year. — Reuters