JSE-listed retail pharmacy group Dis-Chem has posted a slump in interim earnings for the six months to 31 August 2023, despite a reported 9.4% rise in interim revenue to R17.9 billion, marking the end of the Covid-19 vaccination boom for the group.
A total of R702 million in earnings was recorded in the first half, compared to R785 million last year. However, despite the decline, the group says it is confident the second half will see an improvement. “This progress in managing the group’s largest cost line represents a significant step in securing positive operating leverage translating into operational profit improvements in the second half of FY24 and over time.”Dis-Chem says it has already recorded a 12.1% growth in group revenue in the two months to the end of October 2023 when compared to last year.
The interim dividend has been declared at 23.2 cents per share, 17.3% lower than the 28.1 cents paid to shareholders this time last year.