PETALING JAYA: Caring Pharmacy Group Bhd recorded a net profit of RM5.67 million for its third quarter (Q3) ended Feb 28, 2019, a 9.9% increase from RM5.16 million registered in the corresponding quarter of the preceding year.
The growth was due to the sales generated from the establishment of nine new outlets since March 1, 2018 until Feb 28, 2019, and also higher sales from existing outlets.
The pharmacy chain recorded a higher revenue of RM143.36 million in Q3 against RM130.48 million in the same quarter a year ago.
For the nine-month period, its net profit grew 22.1% to RM15.5 million from RM12.69 million on the back of a 12.2% rise in revenue to RM425.61 million from RM379.18 million.
Looking ahead, it expects the operating environment to remain competitive.
“Nevertheless, with the group’s continuous effort in improving the marketing strategies, coupled with more outlets to be opened in fourth quarter of FY2019, the board of directors believes that the group will continue to achieve higher sales in the next quarter.”
As of Feb 28, Caring Pharmacy has a total of 121 community pharmacies.
