Caring Pharmacy posts higher earnings in Q2

PETALING JAYA: Caring Pharmacy Group Bhd’s net profit rose 34.3% to RM5.74 million for the second quarter ended Nov 30, 2018, from RM4.27 million a year ago, on the back of higher revenue and gross profit margin.

Its revenue grew 12.84% to RM139.3 million from RM123.45 million, driven by the sales generated from the establishment of 10 new outlets since Sept 1, 2017 till Nov 30, 2018, as well as also higher sales from existing outlets.

During the quarter under review, Caring Pharmacy established one more complex outlet. As of Nov 30, 2018, its community pharmacies totaled to 119.

“The operating environment is expected to remain competitive. Nevertheless, with the group’s continuous effort in improving the marketing strategies, coupled with the few festive sales and year-end sales, the board of directors believes that the group will continue to achieve higher sales in the next quarter,” it said.

For the first half of the year, the group reported a net profit of RM9.82 million, 30.55% higher than the RM7.53 million reported a year ago.

Revenue for the period rose 13.48% RM282.24 million from RM248.7 million.

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