Latest news with #Dis-Chem
The Citizen
23-06-2025
- Business
- The Citizen
Generational wealth: Dis-Chem founder gifts sons nearly R7 billion in shares
The shares are equivalent to about a 25% stake in Dis-Chem. Dis-Chem founder Ivan Saltzman has taken gifting to a new level as he prepares the next generation of the family to become significant shareholders in the pharmacy group. Accelerating his succession plan, he has handed over 217 shares in the pharmacy to his two sons, Dan and Mark Saltzman. By the end of trading on 19 June, the shares were worth R6.8 billion. The 217 shares gifted to the sons were previously held by Ivlyn Local Investment Holdings (Ivlyn), also founded by Ivan and his wife, Lynette Saltzman. The shares are equivalent to approximately a 25% stake in Dis-Chem. New era for Dis-Chem The news was announced on Friday by the group, which is worth R27 billion. 'Ivan Saltzman is in the process of restructuring his interest in the Dis-Chem share portfolio, which is held through Ivlyn Local Investment Holdings Proprietary Limited. 'This restructuring involves the distribution 217 125 386 ordinary shares. All distributed shares will remain within the Saltzman family, thereby continuing current family ownership,' read the announcement. Ivlyn, before the transaction, held 29.31% of Dis-Chem, and it now holds 4.06%. While Dan and Mark each hold 12.62% of the group. NOW READ: 'No whites' letter cost Dis-Chem hundreds of millions in profit Third son already at Dis-Chem Before the transaction, neither of the two sons held an executive position or a board seat. However, this is expected to change as they become more involved in the group's operation. Another son of the Saltzman family, Saul, has held various positions within the group throughout his entire career and was appointed executive director alongside his father in 2022. Saul already has shares in the group. Dis-Chem was founded in 1978 and listed on the Johannesburg Stock Exchange (JSE) in 2016. 'The transaction will not affect the liquidity of the company's shares traded on the JSE.' Who owns the company? Ivan stepped down as CEO in 2023 after 45 years, succeeded by Rui Morais, who had previously served as the company's CFO. In 2021, the Saltzmans reduced their shareholding in the group from above 50% to 31% through several transactions. 7% was sold to the open market for almost R2 billion to interested investors, and a 3.75% stake was also sold to senior executives, including Morais. In the previous financial year, Ivan received total remuneration of R17 million, while his wife was paid R14 million. Despite Ivan's stepping down in 2023, he and Lynette remain actively involved in the company's operations. Saul was paid a total of R7.9 million. NOW READ: Dis-Chem's growth strategy challenges Clicks' dominance
The South African
20-06-2025
- Business
- The South African
Nomzamo Mbatha becomes ambassador for Creme of Nature
Creme of Nature announced global beauty icon and award-winning actress Nomzamo Mbatha as its first-ever South African ambassador. This iconic American-born ethnic haircare brand, with over 65 years of heritage, has officially launched in South Africa. It's launched with its bold new campaign, Rooted in Radiance. Creme of Nature's arrival in South Africa marks a significant milestone for the brand and the local beauty market. The products, renowned for their dedication to textured hair, are now available at Clicks, Dis-Chem, Takealot, and Amazon. They will also launch at Checkers stores in July, according to Glamour . Nomzamo Mbatha expressed her excitement about the partnership. 'I honour the opportunity to represent a brand that celebrates our natural beauty and heritage.' Textured hair is not just about style; it is a powerful expression of identity and confidence. Creme of Nature's commitment to embracing our roots resonates deeply with me.' The Rooted in Radiance campaign goes beyond a tagline, as it is a movement that honours textured hair as a legacy and a radiant symbol of self-expression. The brand's philosophy respects the rich heritage of African beauty and encourages individuals to embrace their natural hair with pride. A spokesperson for Creme of Nature added, 'We are thrilled to partner with Nomzamo Mbatha, whose passion and authenticity perfectly embody our brand values. Our expansion into South Africa allows us to support and empower people with textured hair, providing products that nurture and celebrate their uniqueness.' This launch comes at a time when South African consumers increasingly seek beauty products that reflect their culture and haircare needs. Creme of Nature's presence offers a trusted, heritage-rich option that aligns with local values and styles. Nomzamo Mbatha leads Creme of Nature as it inspires a new era of textured haircare in South Africa—one rooted in pride, heritage, and radiant confidence. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
02-06-2025
- Business
- IOL News
Dis-Chem clarifies job security amidst declining retail staffing costs
JSE-listed pharmacy group Dis-Chem has insisted that it has not cut any jobs Image: Karen Sandison, Independent Newspapers JSE-listed pharmacy group Dis-Chem has insisted that it has not cut any jobs, despite its latest financial results showing a slight decline in retail staff costs. The group posted solid results for the year ending February 2025, with revenue rising 8% to R39.2 billion and headline earnings per share increasing by 20%. While the reduction in employee costs sparked questions about possible layoffs, the group told IOL these savings were not the result of job cuts. "There are no job reductions, no role consolidations and no reduced working hours – using existing staff across more stores," the group said. Dis-Chem explained that the cost containment measures under its Staffing Framework 1.0 focused on improving operational efficiency by adjusting staff ratios. This included increasing the number of post-basic qualified (PBQ) employees who handle administrative tasks, enabling pharmacists to focus on clinical duties. "The main drivers of cost containment of framework 1.0 were related to the following: Ratio change in our pharmacy category – this resulted in the addition of more resources to improve our dispensary service, driven by a ratio change between our pharmacists and our post-basic qualified resources (who are at a lower price point). "This allows the PBQs to process the administrative requirements of capturing the script and for pharmacists to practice at the top of their scope, checking the dispense and engaging with patients. "Redistribution of over-invested front shop staff – as a result of historical, decentralised decision–making–has led to many administrative resources being over-invested in certain stores. These resources (which were considered against a framework) were then moved into our new stores". Looking ahead, the group added that it plans to introduce Staffing Framework 2.0, which includes adding a junior management level in new stores to reduce management costs. "The introduction of a junior management level for our new stores, which reduces the management cost per store. Cost-saving mechanisms are not traditional job cuts. "Prioritisation implies that we are ensuring that all services and products that we make available in our ecosystem are reimagined and delivered to our employee base with 'extra value', allowing them to understand the products and services and be ambassadors for the change in our brand positioning". [email protected] IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
IOL News
02-06-2025
- Business
- IOL News
Dis-Chem clarifies job security amidst declining retail staffing costs
JSE-listed pharmacy group Dis-Chem has insisted that it has not cut any jobs Image: Karen Sandison, Independent Newspapers JSE-listed pharmacy group Dis-Chem has insisted that it has not cut any jobs, despite its latest financial results showing a slight decline in retail staff costs. The group posted solid results for the year ending February 2025, with revenue rising 8% to R39.2 billion and headline earnings per share increasing by 20%. While the reduction in employee costs sparked questions about possible layoffs, the group told IOL these savings were not the result of job cuts. "There are no job reductions, no role consolidations and no reduced working hours – using existing staff across more stores," the group said. Dis-Chem explained that the cost containment measures under its Staffing Framework 1.0 focused on improving operational efficiency by adjusting staff ratios. This included increasing the number of post-basic qualified (PBQ) employees who handle administrative tasks, enabling pharmacists to focus on clinical duties. "The main drivers of cost containment of framework 1.0 were related to the following: Ratio change in our pharmacy category – this resulted in the addition of more resources to improve our dispensary service, driven by a ratio change between our pharmacists and our post-basic qualified resources (who are at a lower price point). "This allows the PBQs to process the administrative requirements of capturing the script and for pharmacists to practice at the top of their scope, checking the dispense and engaging with patients. "Redistribution of over-invested front shop staff – as a result of historical, decentralised decision–making–has led to many administrative resources being over-invested in certain stores. These resources (which were considered against a framework) were then moved into our new stores". Looking ahead, the group added that it plans to introduce Staffing Framework 2.0, which includes adding a junior management level in new stores to reduce management costs. "The introduction of a junior management level for our new stores, which reduces the management cost per store. Cost-saving mechanisms are not traditional job cuts. "Prioritisation implies that we are ensuring that all services and products that we make available in our ecosystem are reimagined and delivered to our employee base with 'extra value', allowing them to understand the products and services and be ambassadors for the change in our brand positioning". [email protected] IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
IOL News
30-05-2025
- Business
- IOL News
Dis-Chem Pharmacies reports strong annual earnings growth, but share price falls on the JSE
Dis-Chem directors said they continue to make progress on eight strategic areas aimed at delivering sustainable shareholder value. They said the biggest contributor to earnings growth in the year to February 28, 2025, was better cost management, particularly payroll cost. Image: Karen Sandison, Independent Newspapers Dis-chem Pharmacies' share price slumped 5.5% on Friday despite reporting good annual earnings growth and solid revenue growth for the first quarter to May 27. Group revenue grew by 8.6% for the three months of the new financial year compared with the same time last year, while retail revenue was up 7.8%, supported by the opening of 9 pharmacy stores, with comparable pharmacy store revenue growth at 4.6%, the group said in a statement Friday. It plans to open a further 39 stores this year. Revenue increased 8% to R39.2 billion in the 12 months to February 29, 2025, while headline earnings a share (HEPS) was up 20% to 137.5 cents. The final dividend was raised 23.8% to 27.85 cents, bringing the payout for the year 19.9% higher to 54.83 cents. Dis-Chem's share price traded at R33.91 on Friday, barely changed from R31.28 a year ago. In contrast, for comparison, competitor Clicks Group's share price at R389.62 was 32% higher over 12 months. Dis-Chem directors said they continue to make 'solid progress' on the eight strategic areas aimed at delivering sustainable shareholder value. They said the biggest contributor to earnings growth in the year was better cost management, particularly payroll cost. Excluding a once-off property gain associated with the acquisition of the Midrand warehouse, HEPS increased 12.3% to 128.7 cents a share. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Retail revenue grew by 5.9% to R33.6bn, with comparable pharmacy store revenue growth at 4.1%. Net store changes in the past year included opening 20 and closing 3 retail pharmacy stores, and the closure of a net nine baby stores, resulting in a footprint of 285 retail pharmacy stores and 45 retail baby stores. Wholesale revenue grew 9.9% to R30.1bn. Wholesale revenue to own retail stores, the biggest contributor, grew 7.4% while external revenue to independent pharmacies and The Local Choice (TLC) franchises grew by 22.1%. Independent pharmacy growth was 22.7% attributable to both new customers and increased support from the current base. A R650m loan taken out in the year was used to acquire the Midrand warehouse property, while a R502m facility taken out in the prior period funded the acquisition of the Longmeadow warehouse property. Wholesale expenses grew 11.1%, mainly due to the acquisition of the Longmeadow warehouse in the prior period. Excluding the additional costs incurred for the Longmeadow warehouse, wholesale expenses grew by 9%.
