Clicks Group revises earnings forecast upwards after strong performance
CAPE TOWN – Following a stronger retail performance by Clicks Group in the second half, United Pharmaceutical Distributors benefiting from gaining new distribution contracts and further improvements in working capital management across the business, the group has revised its earnings forecast range upwards.
At the time of the release of the group’s interim results on April 17, shareholders were advised via the Stock Exchange News Service (Sens) that diluted headline earnings per share for the year ending to August was forecast to increase by between 10 percent and 15 percent over the 2018 financial year.
The directors now expect that diluted headline earnings per share for the period to increase by between 15 percent and 18 percent over the 2018 financial year, to between 661.6 cents and 678.9 cents.
Shareholders should note that diluted headline earnings per share for the 2018 financial year was restated to 575.3 cents following the adoption of IFRS 9 and IFRS 15.
Clicks Group’s annual results for the year to August will be released on Sens on Thursday, October 24.