Dis-Chem wants to open more than one new store every month
CEO Ivan Saltzman says the group stands by its plan to end the 2019 financial year with a minimum of 151 stores
Pharmacy chain Dis-Chem plans to maintain its expansion pace of more than one store a month, it said in its interim results on Wednesday morning. During the first half of its 2019 financial year, the chain grew by seven stores, which added R155m to revenue, helping its overall interim revenue grow 9.4% to R10.5bn. Dis-Chem ended August with 136 stores, 18 more than it had at the end of the first half of its 2018 financial year. “Two stores have been added since the reporting period and an additional 13 store openings are planned through to February 2019. We reiterate our guidance to end the 2019 financial year with a minimum of 151 stores,” CEO Ivan Saltzman said in the results statement. Dis-Chem, along with other pharmacies, has medicine prices prescribed to it by the government’s “single exit price” regime. The results statement said the group’s internal inflation was 1.2%, lower than the 1.26% average single exit price increase that came into effect on March 1. The group segment...
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