S.Africa’s Dis-Chem profit rises on new acquisitions, medicine demand
(Reuters) – South Africa’s Dis-Chem Pharmacies reported an increase in annual revenue on Monday, buoyed by acquisitions of recent drugstores and stronger demand for medicines as COVID-19 lockdowns ease.
The pharmacy chain stated the acquisitions of dozens of areas in the course of the 12 months ended Feb. 28, and its current launch of a medical insurance providing have helped the group broaden its focus.
“Within the two months since launching medical insurance coverage, uptake has exceeded our preliminary expectations,” Dis-Chem stated in a press release, though it warned the buyer surroundings remained “constrained.”
Dis-Chem, which runs the second-largest chain of pharmacies in South Africa in competitors with Clicks Group, stated it administered 1.4 million COVID-19 vaccine doses in the course of the 12 months, leading to 513 million rand ($32.5 million) in income.
Whole income climbed 15.7% to 30.4 billion rand. Headline earnings per share, a key metric of revenue for South African corporations, jumped 27.6% to 99.2 cents for the 12 months.
($1 = 15.7828 rand)
(Reporting by Muhammed Husain in Bengaluru; Modifying by Subhranshu Sahu)
