e-spaces

November 28, 2007

New Clicks Holdings had repurchased 3.1 percent of its own shares for R176.7 million, the retailer of toiletries, music and pharmaceuticals said yesterday.

Based on company earnings for the year to August, the transaction would raise profit a share by 0.3 percent and cut the firm’s net asset value by about 11 percent, the company said in an announcement to the JSE.

The share price lost 0.9 percent to R16.50, while the general retailers sector shed 1.5 percent. – Bloomberg