Healthy Performance By S A Druggists Group

The S A Druggists group's prescription of vigorous market penetration plus sustained productivity improvement produced another healthy performance in the year to August. SAD is one of three major locally-owned drug companies in South Africa.

Results for fiscal 1994 show earnings up 48% to 96 million rand ($26.9 million) on a 17% rise in turnover to 2.15 billion rand. Earnings per share increased 30% to 159.4 cents. The group's operating margin improved 7%. All divisions have contributed to the performance, the company said.

In spite of the significant financing of some 49 million rand required by new ventures during the year, SAD's balance sheet continued to strengthen and gearing was down to a nominal 3.9% at the end of August.