e-spaces

South African drugs and cosmetics retailer New Clicks said on Thursday first-half diluted headline earnings per share (EPS) rose 25,8% helped by health and beauty sales despite a tightening economy.

The company said headline EPS, the main profit gauge in South Africa, which strips out non-trading, capital and certain extraordinary items, was 67,8 cents.

New Clicks said it expects full-year diluted headline EPS to the end of August to rise between 20% and 30%.

“While the trading environment is expected to become more challenging with increasing pressures on consumer expenditure, New Clicks is a largely defensive business that is proving fairly resilient in the current economic climate,” it said.

Sales for March and April had continued in line with the performance for the first half, it said.

Half-year revenue grew 12,7% to R5,87-billion, with turnover from continuing operations up 13,1% at R5,64-billion. — Reuters