Acquisitions pay off as Dis-Chem posts higher half-year profit
The group's headline earnings per share, a key metric of profit for South African companies, rose 44.3% to 70.3 cents in the six months ended 31 August from 48.7 cents in the year-ago period.
Dis-Chem also declared an interim dividend of 28.1 cents per share, up 44.3%.
Dis-Chem, which runs the second-largest chain of pharmacies in South Africa in competition with Clicks Group, said group revenue grew 9.3% to R16.3bn ($899.6m), comprising of retail revenue growth of 9.3% and wholesale revenue growth of 10.6%.
The company said retail revenue showed normalising trading patterns compared with the year-ago period, when it made R222m in Covid-19 vaccine administration and testing revenue. It made R143m in the latest six-months period.
During the reporting period, a net 15 Baby Boom stores were acquired effective 1 March, extending the group's baby retail leadership position, resulting in 251 retail pharmacy stores and 53 retail baby stores as of the end of August.
($1 = R18.1195)