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NCL
NCL
NCL - New Clicks Holdings - Trading Update
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
("New Clicks" or "the group")
TRADING UPDATE FOR THE FOUR MONTHS ENDED DECEMBER 2007
HIGHLIGHTS
- Total sales up 13.1%
- Real growth of 9.3%
- Retail sales up 11.3%
- UPD turnover up 13.2%
TRADING PERFORMANCE
New Clicks increased sales by 13.1% for the four months ended December 2007.
While tighter consumer expenditure impacted retail sales growth all the
businesses performed well, with a strong merchandising offer that was well
executed.
The business unit split is as follows:
Four Four Same
months to months to Total store
December December sales sales
2007 2006 growth growth Inflation
(Rm) (Rm) (%) (%) (%)
Clicks 2 149 1 938 10.9 9.4 4.1
Musica 397 354 12.2 7.3 2.8
The Body Shop 38 31 22.3 10.9 4.8
Total retail 2 584 2 323 11.3 9.1 3.9
UPD 1 558 1 376 13.2 3.6
Less intragroup
turnover (255) (264) (3.3)
Total group 3 887 3 435 13.1 3.8
RETAIL TRADING
Clicks continued to generate real growth in turnover, led by the health category
and supported by strong beauty sales. General merchandise showed lower growth,
but recorded market share gains in key sub-categories. Clicks again benefited
from a strong Christmas gifting offer across the business.
Musica experienced strong Christmas trading with a good schedule of new releases
which was supported by an impactful marketing campaign. This followed weaker
trading in September/October owing to a lack of new releases. The DVD and
gaming categories continue to lead growth and market share has increased.
The Body Shop continued to show excellent growth, with a well-received gifting
offer, despite having anniversaried the launch of the make-up range in September
2006. The brand also benefited from the opening of four new stores in the last
financial year and a new store in Eastgate in October 2007.
UPD
UPD continued to gain market share, with sales of ethical products to hospitals
and Clicks pharmacies driving growth. UPD also benefited from the launch of the
Link Pharmacy initiative and increased distribution sales in this trading
period.
UPD has entered into an agreement to acquire Kalahari Medical Distributors, one
of Botswana`s leading pharmaceutical wholesalers, for approximately R5 million,
which will assist in the development of UPD`s export business in the SADC
region.
CONCLUSION
New Clicks expects retail trading conditions to remain tough. The group`s stock
levels and markdowns are in line with expectations and management is confident
of achieving the strategic objectives and targets set out in the 2007 annual
report.
NOTES
1) The information contained in this trading update has not been reviewed or
reported on by the group`s auditors. New Clicks` interim results for the six
months to 29 February 2008 will be released on SENS on or about 24 April 2008.
2) The information contained in this trading update does not include the results
of the Discom business unit, which was sold in September 2007.
3) The decline in intragroup turnover reflects the relocation of the majority of
front shop healthcare products from UPD to the Clicks distribution centres with
effect from 1 March 2007.
Cape Town
17 January 2008
For further information contact
Tier 1 Investor Relations
Tel +27 (21) 702-3102
Sponsor
Investec Bank Limited
Date: 17/01/2008 09:00:03 Produced by the JSE SENS Department.
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