Opening more stores is just the right medicine for Dis-Chem
Opening 19 new stores, taking the total to 118, helped Dis-Chem Pharmacies grow interim revenue 14% to R9.95bn. After-tax profit jumped 37.4% to R409m for the six months to end-August from the matching period in 2016, which was before the pharmacy chain listed on the JSE on November 18. "The increase is a result of the additional centralisation of vendors and better trade terms with suppliers as the group continued to increase market shares across our core categories," CEO Ivan Saltzman said in the interim results statement issued on Friday morning. Despite an 8% increase in its shares in issue following its initial public offering (IPO), Dis-Chem managed to grow its headline earnings per share (HEPS) by 38.1% to 46.8c. Its first interim dividend as a listed company was set to 18.73035c per share. The group segments itself into a retail and a wholesale division. Its retail arm contributed 91% of the group’s R9.6bn total sales and a pre-tax profit of R629m, while its wholesale arm gr...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.