Clicks A sweet pill to swallow
Sales at the actual Clicks division of the Clicks Group were up 13% to R9,79bn for the year to August. Of this, price increases contributed only 1%, with volume increases of anyone? 12% accounting for the balance. Like store sales were up 7.5% by volume and 8.5% in value. The rest of the business, not so good. Musica, for whom we have an unbelievable business model if they’re interested, saw pre-tax profit decline 40% to R31,4m, Body Shop grew profit just 4% to R20,6m while UPD’s pre-tax profit slid 20% to R130m, and this is unlikely to improve much with 2012’s freeze on medicine prices. But Clicks, ah, Clicks, now. 32 new pharmacies for a total of 283, and store numbers which grew by 31 to 400.
Comment: They may be a one trick pony right now. But it’s a hell of a good trick.