Johannesburg – Dis-Chem, which listed last November, says
group turnover gained 13 percent to R7.32 billion in the 22 weeks to January
The company also notes in a statement issued on Friday
that retail turnover gained 14.3 percent to R6.71 billion.
The company, which was worth R20 billion on debut, says stores
grew 9.1 percent over the period, while inflation was 6.5 percent.
Over the same period, CJ Distribution, the group’s
wholesale segment, increased turnover by 15.2 percent against sales price inflation
averaged at 4.8 percent.
CEO Ivan Saltzman says “trading over the period was in
line with our expectations. We are pleased with the trading figures coming out
of the eight new stores opened over a ten-day period in November, specifically
the trading of newly opened, convenience focussed format which traded at
densities that were higher than expected.”
Saltzman adds its Northridge store in Bloemfontein was
flooded as a result of heavy rains late last year and is being rebuilt with an
expected opening in the second quarter of 2017.
Read also: Dis-Chem worth R20bn on debut
“Although this had no effect on our comparable turnover
number, it did impact both the retail and group turnover numbers by 0.6 percent.
Direct losses are fully covered by insurance.”
Dis-Chem, which wants to double its store base to 200 in
the next five to eight years, will open 21 new stores in the 2018 financial
“This new space, together with maturing space within the
existing store footprint, is expected to drive strong retail and comparable
store growth in the years ahead, both of which are supported by the resilient health
and beauty markets that we operate in.”