Caring Pharmacy's Q3 profit drops

PETALING JAYA: Caring Pharmacy Group Bhd saw a 2.3% decline in net profit to RM5.16 million for the third quarter ended February 28, 2018 compared with RM5.28 million in the previous corresponding period.
However, its revenue rose 12.8% to RM130.48 million from RM115.66 million.
For the nine-month period, Caring Pharmacy’s net profit soared 44.7% to RM12.69 million from RM8.77 million, with revenue rising 11.4% to RM379.18 million from RM340.46 million.
The group said in a filing with the stock exchange that it expects the operating environment to remain highly competitive, but will continue to enhance operating efficiency and focus on improving the marketing strategies in order to safeguard its revenue and profitability.
“The board of directors remains optimistic that the group will continue to be profitable in the next quarter.”
As of February 28, 2018, Caring Pharmacy has a total of 114 community pharmacies.