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    Dis-Chem profit rises on new acquisitions, medicine demand

    Dis-Chem Pharmacies reported a rise in annual profit on Monday, 23 May, buoyed by acquisitions of new drugstores and stronger demand for medicines as Covid-19 lockdowns ease.
    Source: Dis-Chem
    Source: Dis-Chem

    The pharmacy retail chain said the acquisitions of dozens of locations during the year ended 28 February, and its recent launch of a health insurance offering have helped the group broaden its focus.

    "In the two months since launching medical insurance, uptake has exceeded our initial expectations," Dis-Chem said in a statement, although it warned the consumer environment remained "constrained."

    Dis-Chem, which runs the second-largest chain of pharmacies in South Africa in competition with Clicks Group, said it administered 1.4 million Covid-19 vaccine doses during the year, resulting in R513m in revenue.

    Total revenue climbed 15.7% to R30.4bn. Headline earnings per share, a key metric of profit for South African companies, jumped 27.6% to 99.2 cents for the year.

    Source: Reuters

    Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

    Go to: https://www.reuters.com/

    About Muhammed Husain

    Reporting by Muhammed Husain in Bengaluru; Editing by Subhranshu Sahu
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