Dis-Chem reinstates its dividend
DIS-Chem has reinstated its dividend after reporting a solid rise in earnings, despite its 2021 financial year coinciding with the outbreak of the Covid-19 pandemic, which brought mixed fortunes for the group. Online sales went up by 260.7% and this trend is expected to continue as consumers get comfortable with the security and convenience of online shopping.
Dis-Chem said various restrictions during each level of lockdown dramatically changed the shopping behaviour of its customers.
Retail revenue grew by 7.6% to R23.4-bn, with comparable-store revenue up 2.7%. It added a net
22 new stores to its network, including three Mediclinic stores and acquired two new pharmacies during the year ending February with 194 stores.