JOHANNESBURG - South African retailer Clicks Group reported on Thursday a 15.1 percent rise in full-year profit, buoyed once again by rising sales in its health and beauty divisions.
Diluted headline earnings per share increased to 577.6 South African cents per share, compared with 505.7 cents per share in the full year ended Aug. 31, 2017.
The group declared a final dividend of 277.5 cents per share, an 18.6 percent increase from the previous comparable period.
New chief executive
In late September, Clicks announced that Vikesh Ramsunder will be the company's chief executive with effect from January 1, 2019.
Ramsunder will take over the position that was held by David Kneale since 2006.
Currently, Ramsunder is the chief operating office for the company and has been with Clicks for 25 years. Throughout his career, he has worn a variety of caps including the head of logistics and roles in store and distribution centre management.
In 2010, he was promoted to managing director of the company's pharmaceutical wholesaler UPD and in 2015 he was appointed to lead the Clicks chain.
Kneale said, "Vikesh has been mentored as my successor over several years and is highly respected both internally and by external stakeholders of the group. His proven leadership track record and depth of experience makes him the ideal chief executive succession candidate".
He added that most recently Ramsunder has been responsible for driving growth in the Clicks' health and beauty market shares.
Kneale will move onto the role of group strategic advisor on January 1st, 2019. He will continue to work as the group strategic advisor until August 2019 when his contractual notice period ends.