It’s tempting to wonder if Clicks can continue its stellar performance, with another top-notch CEO leaving the business, especially a lifer like Vikesh Ramsunder.

While full-year operating profit, adjusted for the impact of July’s civil unrest, topped R3bn for the first time ever, its profit growth (up 8%) lagged the rise in turnover (up 10.2%). The single-digit increase may be evidence that Clicks’s unshakeable expansion is slowing...

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