clicks group ltd (CLS) Snapshot

Clicks Group Limited announced unaudited consolidated earnings results for the six months ended February 28, 2013. For the period, the company reported profit attributable to equity holders of the parent of ZAR 363,560,000 or 141.7 cents diluted earning per share on turnover of ZAR 8,529,084,000 compared to profit attributable to equity holders of the parent of ZAR 331,085,000 or 130.8 cents diluted earning per share on turnover of ZAR 7,657,499,000 for the corresponding period last year. Revenue was ZAR 8,942,617,000 against ZAR 8,022,039,000 of prior year period. Profit before taxation was ZAR 508,174,000 against ZAR 461,249,000 of prior year period. Capital expenditure was ZAR 145,460,000 against ZAR 99,672,000 of prior year period. Cash inflow from operating activities before distributions was ZAR 243,534,000 against ZAR 214,425,000 of prior year period. Operating profit was ZAR 531,388,000 compared with ZAR 488,936,000 for the same period last year. Headline earnings were ZAR 366,175,000 compared with ZAR 332,942,000 for the same period last year. Diluted headline earnings per share were 142.7 cents compared with 131.5 cents for the same period last year. Negative net cash effects of operating activities was ZAR 29,691,000 compared with ZAR 11,191,000 for the same period last year. Operating profit increased by 8.7% as a result of the faster growth rate in the lower margin UPD business. The board of directors has approved an interim ordinary dividend of 48.5 cents per share versus 44.1 cents per share of 2012. Dividends Tax ("DT") amounting to 7.275 cents per ordinary share will be withheld in terms of the Income Tax Act. Ordinary shareholders who are not exempt from DT will therefore receive a dividend of 41.225 cents net of DT with record date of June 28, 2013, ex- date of June 24, 2013 and payment to share holders on July 1, 2013. The group anticipates that diluted headline earnings per share for the year to August 31, 2013 will increase by between 5% and 10% over the previous financial year.

Clicks Group Limited announced the appointment of Keith Warburton to the newly-created position of chief operating officer of the Clicks chain with effect from 6 May 2013. Keith (55) previously served as an executive director and chief financial officer of the Clicks Group for over five years. He resigned from the group in March 2011 to take a break from the corporate environment. The Clicks executive committee will report to Keith, who will in turn report to David Kneale.

Clicks Group Limited, H1 2013 Earnings Call, Apr 25, 2013