Caring Pharmacy posts higher Q4 earnings

PETALING JAYA: Caring Pharmacy Group Bhd’s net profit for the fourth quarter ended May 31 rose 34.6% to RM5.86 million from RM4.36 million recorded a year ago on the back of higher revenue.

Revenue for the period grew 8.2% to RM129.35 million from RM119.5 million, driven by the higher sales generated from existing outlets due to aggressive and extensive promotional campaign launched during the quarter under review.

The group has proposed a final dividend of 5 sen per share amounting to RM10.89 million.

For the full year, Caring’s net profit soared 41.4% to RM18.56 million against the RM13.13 million recorded in the previous year. Revenue increased 10.5% to RM 508.27million from RM459.96 million a year ago.

“The operating environment is expected to remain highly competitive. Nevertheless, the group will continue to enhance operating efficiency and focus in improving the marketing strategies in order to safeguard the group’s revenue and profitability. The board of directors remains optimistic that the group will continue to be profitable in the next quarter,” said Caring on its prospects.

The pharmacy chain currently has 115 community pharmacies with one complex outlet established in the quarter under review.

Its shares fell 2.94% to close at RM1.65 yesterday with 11,400 shares done.