Wholesale turnover growth outpaces retail at Dis-Chem
‘The resilient markets in which the group operates will offer protection against the weak environment’
Pharmacy chain Dis-Chem added 21 stores to end its financial year with 129 outlets. This helped the group, which owns pharmaceutical wholesaler CJ Distribution and courier company Optipharm besides its flagship retail chain, grow revenue by 13% to R20.3bn for the year to end-February, it reported on Friday morning. Dis-Chem’s net profit grew a more muted 6.6% to R698m. The group declared a final dividend of 12.7c, taking its total for its first full year on the JSE to 31.4c. Dis-Chem said turnover from its retail arm grew 15% from the prior year. Excluding new stores, retail turnover grew 6.6%. Product inflation was estimated at 2.9% for the year. Its wholesale arm grew turnover by 19.6%. "The group expects that the consumer will continue to remain constrained despite improving sentiment," CEO Ivan Saltzman said in the outlook section of the results statement. "As was the case previously, the resilient markets in which the group operates will offer protection against the weak enviro...
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.