Caring Pharmacy Q4 earnings jump 59%, proposes 3 sen dividend

PETALING JAYA: Caring Pharmacy Group Bhd’s net profit for the fourth quarter (Q4) ended May 31, 2017 jumped 59% on higher sales generated from existing outlets due to aggressive and extensive promotional campaigns.

It registered a net profit of RM4.34 million compared with RM2.7 million in the corresponding quarter.

This was on 10% higher revenue of RM119.5 million, compared with RM108.3 million for the same quarter the year before.

Caring, which has proposed a final dividend of three sen for the quarter, established four complex outlets and closed down one high street outlet and one speciality retail outlet during the period. As of May 31, 2017, it has a total of 107 community pharmacies.

In a filing with Bursa Malaysia the group said its operating environment will remain challenging in view of weak consumer purchasing power and escalating costs, despite a mild recovery in the ringgit.

“Nevertheless, by focusing on products and services quality, the group remains optimistic that it will continue to be profitable in the next financial year,” its board of directors said.

Net profit for the 12-month period ended May 31, 2017 was 80% higher at RM13.1 million, compared with RM7.3 million for the financial year ended May 31, 2016. This was on 14% higher revenue of RM460 million, compared with RM 402.6 million for the same period in 2016.