Led by South African Saltzman family, Dis-Chem Pharmacies expects earnings to surge by 24.5 percent

Omokolade Ajayi -

Dis-Chem Pharmacies, a healthcare firm founded by the affluent Saltzman family of South Africa, has announced that it anticipates its earnings to exceed forecasts at the end of its 2022 fiscal period, which concluded on Feb, 28.

The healthcare group stated that its earnings per share and headline earnings per share are expected to be between R0.969 ($0.061) and R1.01 ($0.0635) at the end of its 2022 fiscal year, representing a 24.5- to 29.5-percent increase over its earnings per share and headline earnings per share of R0.778 ($0.049) at the end of 2021.

The company’s profits projection to investors was prompted by trade information, market expectations, and preliminary unaudited full-year financial statements, among other data sources currently available to the board.

This remarkable financial success comes despite a constricted consumer environment throughout the reporting year, as well as the disruptions from the pandemic and civil unrest in July 2021.

The management stated that the successful integration of recent acquisitions, as well as the sustained emphasis on return on invested capital, contributed to the increase in earnings, as the South African business prepares itself to capitalize on its longer-term strategic ambitions.

Dis-Chem Pharmacies is a significant South African pharmacy retail and healthcare organization. The Saltzman family — Lynette and Ivan Saltzman, who established the firm in 1978 — owns a beneficial 45.2-percent share in the healthcare company.

Since its founding by the Saltzmans, the group has grown into a leading retail and healthcare group in the country with linked dispensaries, family clinics, wound care clinics, and comprehensive self-medication centers.

As of press time on April 29, shares in the group were trading at R38.65 per share, giving the firm a market valuation of R33 billion ($2.07 billion), while the Saltzman’s 45.2-percent ownership is worth R14.92 billion ($938.5 million).