Dis-Chem profit rises on new acquisitions, medicine demand

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.