Some things in life is just better viewed on a big screen Please open this report on a tablet in landscape mode or bigger screen.

Integrated Annual Report 2015

Introducing The Report

Clicks Group has pleasure in presenting its Integrated Report for the 2015 financial year. The report aims to demonstrate in a balanced way how the group’s retail-led health, beauty and wellness strategy creates value for shareholders in the short, medium and long term.

The Integrated Reporting Framework (the Framework) of the International Integrated Reporting Council has been applied in the preparation of this report.

As recommended by the Framework, our Integrated Report is aimed primarily at our shareholders who are the providers of financial capital. However, the report is relevant to a range of other stakeholder groups who influence the group’s ability to create shareholder value. These include our customers, employees, suppliers and industry regulators.

Reporting boundary

The report covers the integrated financial and non-financial performance of the Clicks Group and its subsidiaries (the group) for the period 1 September 2014 to 31 August 2015. Reporting covers the main operating entities Clicks and UPD which collectively account for 95% of the group’s turnover. The report focuses on the group’s operations in South Africa where the majority of revenue is generated.

There has been no material change from last year in the comparability of reporting and all significant items are reported on a like-for-like basis, with no major restatements.

Material issues

Materiality has been applied in determining the content and disclosure in this report. Material issues are determined by the board based on matters that substantively affect the group’s ability to deliver its strategy and are likely to have a material impact on the current and projected revenue and profitability of the group. These material issues are covered here. This does, however, exclude the disclosure of price-sensitive or competitor-sensitive information.


The content of the Integrated Report has been reviewed by the directors and management but has not been externally assured.

The annual financial statements have been audited by Ernst & Young Inc. (EY) who expressed an unmodified audit opinion. The financial statements have been prepared according to International Financial Reporting Standards. Preliminary reviewed condensed consolidated financial statements and the audited annual financial statements are available on the group’s website.

Accredited service providers and agencies have verified selected non-financial performance metrics contained in the report, including market shares and the BBBEE rating, while management has verified the processes for measuring all other non-financial information.

Capitals of value creation

The Framework recommends reporting to shareholders on the capital resources that are utilised in the creation of value. These forms of capital are classified as the financial, manufactured, intellectual, human, social and relationship, and natural capitals.

We have chosen not to present the Integrated Report according to these capitals. However, the performance and activities relative to these capitals are covered throughout the report:

Directors’ approval

The board acknowledges its responsibility to ensure the integrity of the Integrated Report. The directors have collectively assessed the content and confirm the report addresses all material issues, and fairly represents the integrated performance of the group. The directors also believe the group has materially reported in accordance with the Integrated Reporting Framework.

The audit and risk committee, which has oversight responsibility for integrated reporting, recommended the report for approval by the board. The board approved the 2015 Integrated Report for release to shareholders on 10 November 2015.

David Nurek
Independent non-executive chairman

David Kneale
Chief executive officer

White Home Icon White Arrow Up White Arrow Down