Clicks Group (CLS) FY22 Results Snapshot

Diluted HEPS expanded to 1 032.7cps (+33.5% y-y).
Turnover growth +6.0% y-y, supported by Retail revenue growth of 11.7% y-y. Distribution revenue growth declined by -2.6%y-y.
Group GPM improved by 182bps to 21.3%.
Expenses to sales increased to 19.3% compared to 18.7% in FY21.
OPM% increased from 7.8% to 9.2%.
Final dividend of 457cps declared, source of funds from distributable reserves.