In January 2010, the share price was trading at R27.82, while yesterday it was at R174.30.
He said although the group had 30 stores in South Africa’s neighbouring countries, including Botswana, Namibia, Swaziland and Lesotho, the group’s focus was on growing its business in South Africa.
It was announced earlier this month that Clicks workers were set to receive a major windfall of R1.27billion after selling up to 7642904 Clicks Group ordinary shares at R166 a share. The Clicks Group Employee Share Ownership Trust (Esop Trust) disposed of the shares to unwind 50percent of the scheme.
Kneale, speaking in Cape Town, at the launch of the Esop scheme said: “If we look back, the company has grown enormously. When we launched the scheme, as an example, we had just opened our 250th pharmacy, and we are now just a few weeks away from opening our 500th pharmacy. We had 350 stores then; we have 650 now and the Clicks Group has still got an exciting path of growth ahead of it.
“We’re opening new stores. Our published goal is to get to 900 stores in this country, so there is a lot of future growth to come.
“That’s an incredible result. It’s testimony to the hard work and dedication of everyone across the business. What makes the achievement all the more outstanding is that it’s been done in really tough economic conditions,” said Kneale.
He said almost 8000 people were benefiting from the R1.3bn Esop payout. Kneale added that the second 50percent payout in 12 months’ time could be even bigger if the group continued to stay focused on doing its jobs well, getting it right first time and delighting its customers and the group’s success comes from its people.
“When we launched the scheme, we really had two objectives, to accelerate transformation in the business.
“I’m pleased that we are now one of the top empowered retailers. And, secondly, it was to build commitment to the organisation in the ongoing war for talent.
“I’m pleased again to say that over the years the staff turnover rate has consistently formed, so both objectives have been met,” he said.
- BUSINESS REPORT