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New Clicks sees diluted HEPS up by 20% to 30%
Despite the challenging retail climate, the retail group expects good results.
South African retail group New Clicks (NCL) said on Monday that it expects diluted headline earnings per share for the six months ended February 29, 2008 to be between 20% and 30% higher than the previous corresponding period.
The comparative period includes the results of the Discom business, which was sold in September 2007.
"The group has continued to show resilient trading in an increasingly challenging environment, with turnover growth for the period being broadly in line with the group's trading update issued on January 17, 2008. Earnings have also benefited from the group's share buy-back programme," it said.
Diluted earnings per share for the period is expected to be between 50% and 60% higher than last year, with the additional profit arising from the disposal of retail businesses Discom and Style Studio, as well as the sale of land adjacent to the group's head office.
Its results are due to be released on SENS on April 24.
Published courtesy of
