Clicks invests more in small suppliers
t 10 years. He said that 93% of Clicks s taff are black and almost 77% are women . Ninety-two percent of the items the group sources are from local suppliers, he said, and only 8% are imported. He did concede that some of the suppliers are multinationals that may import products from other markets. The group has quadrupled its i nvestment in small and medium enterprises in the past six months, from R10m to R40m, he said. This includes an investment in local haircare brand Afrobotanics, which is exclusive - ly available in Clicks’ 840 stores nationwide. “Our ambition is to source as many local products as we can,” he said. Other local brands the group stocks include Heavenly and Sorbet. The retail group released its financial results for the six months to February 2021 this week, reporting a 9.7% increase in operating profit to R1.4bn. Sales for the health and beauty range grew 7.2%, with sales of hair-care products increasing 22% in the past six months, he said . “A strong performance if you consider the effect of Covid-19 and that 2020 was a leap Clicks invests more in small suppliers rack up R50m to R100m and we just wouldn ’t know. We must have some form of disclosure otherwise who will hold them to account? That’s the real problem.” Botha said how much information is forthcoming has also changed over the years since the disclosure of CEO pay began. At first there wasn’t much explanation about how bonuses were derived but this has changed. “It ’s about how the executives derive their bonuses and therefore once we understand how they derive their bonuses, shareholders can disagree. They may say the company is setting targets far too low and achieving bonuses far too easily,” he said. According to PSG’s draft 2021 remuneration report, Mouton was paid R13.294m, including gains from share options exercised, compared to R47.316m including gains from share options exercised in the 2020 financial The approach to disclosure is gaining momentum in the wrong direction Piet Mouton CEO of PSG Group Piet Mouton says CEOs and fellow executives build companies and should be duly rewarded. Picture: Esa Alexander Clicks CEO Vikesh Ramsunder.
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