The share price of beauty and health retailer Clicks jumped to its highest level yet on Monday after a stronger retail performance in its second half resulted in new distribution contracts for its pharmaceutical distributor in the year to end-August.
Headline earnings per share was expected to rise 10%-15% for the period, with United Pharmaceuticals Distributor (UPD) also benefiting from improved working capital management across its business.
UPD is SA’s only national full-range pharmaceutical wholesaler and provides the distribution capability for the Clicks Group, which acquired it in 2003.
Clicks has outperformed the JSE’s food and drug retailers index so far in 2019, rising 13.97%, compared with a 3.1% fall for the index.
At 9.15am the share was up 7.24% to R233.99, having earlier risen as much as 7.5%.