Clicks shares take an unexpected knock
File Photo: IOL
DURBAN – Health and beauty retailer Clicks Group’s share price declined by 4.05percent yesterday, despite reporting a 9.9percent increase in turnover to R12.9billion for the 20 weeks to January 12.
The share closed at R254.76 on the JSE yesterday.
It has traded positively in the past six months, up by 21.17percent from R211.17 on July 23.
In a trading update, Clicks Pharmaceutical wholesale and distribution business, UPD, showed a strong growth of 13.1percent in turnover, while total managed turnover, which combines wholesale turnover and turnover managed on behalf of bulk distribution clients, increased by 10.2percent.
The group said UPD had traded well during the period and the business had benefited from gaining new wholesale and distribution contracts.
Source: iol.co.za