The Daily Update: 20 April

The latest updates from the JSE and NYSE over the past 24 hours.

South Africa

Clicks Group Limited- Results for the six months ended 28 February 2023 and Cash Dividend Declaration

• Group turnover increased by 6.8% to R20.0 billion.
• Retail turnover increased by 11.9%.
• Distribution turnover declined by 1.8%.
• Adjusted group operating profit increased by 7.0% to R1.6 billion.
• Adjusted operating margin increased by 40 basis points to 8.2%.
• Headline earnings per share grew by 0.9% to R1.2 billion.
• The group's return on equity was 41.2%.
• Clicks Group's Clicks ClubCard loyalty program has passed the 10 million active member milestone.
• The group plans to open 50 new stores and 40 pharmacies for the financial year.
• An interim dividend of 185 cents per share will be paid on Monday, 3 July 2023. 

The U.S.

Tesla Earnings

• EPS of $0.85 missing expectations of $0.86.
• Revenue of $23.33B missing expectations of $23.35B.
• Tesla reported Free Cash Flow of $441M below expectations of $3.24B.
• Tesla ended Q1 with cash, cash equivalents and investments of $22.4B up 24% YoY.
• Elon Musk has confirmed Tesla is making significant investments in Nvidia GPUs.
• Elon Musk just said Tesla achieved a 25% reduction in Cost Of Goods Sold in Q1.