CEO David Kneale leaving Clicks in robust health
Group plans to have 900 stores in SA within the next seven to 10 years, from 663 today
Retiring Clicks CEO David Kneale says he is “going out on a high” and that the business has good growth prospects given that only half of SA’s population lives close to one of the group’s stores. Kneale will be replaced by internal candidate Vikesh Ramsunder at the end of 2018, but will thereafter take on the role of group strategic adviser until the end of August 2019.
Under Kneale’s watch, Clicks broke into the JSE’s top 40 index for the first time in June, and the group on Thursday reported a 15.5% increase in net profit for the year to end-August, to R1.5bn. Revenue was up 9.3% to R31bn, while the total dividend rose 18% to R3.80 per share. The share price jumped 6.75% to R174, its highest close since the start of October. The FTSE/JSE all share index was up 1.47%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.