Pricey but at­trac­tive

Finweek English Edition - - MARKETPLACE -

The re­cent Clicks results show mod­est like­for-like growth in re­tail on the back of sales up by 8.5%, di­luted HEPS up by 13.5% and a div­i­dend in­crease of 15.8%. Great op­er­a­tional ef­fi­ciency is ev­i­dent, but even with these results and with the share trad­ing just off all-time highs, it re­mains an ex­pen­sive stock, al­though one that has con­tin­u­ally de­liv­ered on ex­pec­ta­tions. Re­cently listed Dis-Chem Phar­ma­cies has more growth po­ten­tial in terms of new stores, but Clicks has proved its abil­ity to grow as it con­tin­ues to ex­pand, and it would be my pre­ferred pick of the two.

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