Clicks Group (CLS) H1 2026 earnings summary

Executive summary

• Group turnover rose 7.4% year-over-year to R24.9 billion for the six months ended 28 February 2026, with retail turnover up 5.4% and distribution/UPD turnover up 13%.

• Diluted HEPS increased 8.1% to 652.8 cents, and interim dividend rose 8.4% to 258 cents per share.

• Retail and pharmacy network expanded to over 1,000 stores and nearly 800 pharmacies, with ClubCard membership reaching 12.9 million after 800,000 new sign-ups.

• R2.3 billion was returned to shareholders via dividends and share buybacks, including R752 million in buybacks.

• Warehouse management system rollout caused R175 million in lost sales but product availability normalized by period end.

Financial highlights

• Group turnover up 7.4% to R24.9 billion; retail turnover up 5.4%, UPD/distribution turnover up 13%.

• Trading profit rose 7.4% to R2.3 billion; trading margin maintained at 9.1%.

• Diluted HEPS up 8.1% to 652.8 cps; interim dividend up 8.4% to 258 cps.

• Cash generated from operations was R1.9 billion; return on equity at 45.7%.

• R2.3 billion returned to shareholders in six months through dividends and buybacks.

Outlook and guidance

• Full-year diluted HEPS growth forecast at 4%-9%, reflecting economic uncertainty and inflationary pressures.

• Plans to open 40-50 new stores and pharmacies, pilot 10 concept stores, and expand UniCare to five locations.

• Continued investment in IT, e-commerce, sustainability, and medical consumables expansion.