Cosmetics spur Clicks growth
Health and beauty sales bolstered drug and cosmetics company New Clicks, which showed robust growth in a tough trading environment for the six months ended in February.
The business model stood the company in good stead and executives provided confidence guidance for the rest of the financial year with diluted headline earnings a share expected to increase by 20percent to 30percent for the full year.
New Clicks has been through a three-year turnaround process strewn with management changes, improved systems and stringent inventory controls.
Strong growth in DVD and gaming sales in Musica drove an 8,5percent increase in turnover, but local music sales were down 11percent from a year ago and Musica had a "dreadful February", said group chief executive of New Clicks David Kneale.
The drivers in Clicks were medicine and baby goods.
Looking ahead, trading will continue in line with the first half and is set to benefit from winter months, which is the peak trading period in healthcare.