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Caring Pharmacy Q2 earnings lower

22 Jan 2020 / 19:05 H.

PETALING JAYA: Caring Pharmacy Group Bhd’s net profit for the second quarter ended Nov 30, 2019 fell 13.66% to RM4.96 million from RM5.74 million a year ago as its immature outlets have yet to turn around.

“We have 30 immature outlets compared to the preceding corresponding quarter of 20 outlets,“ Caring said in its Bursa disclosure.

Its revenue jumped 14.48% to RM166.91 million from RM145.8 million mainly contributed by the sales generated from the establishment of 18 new outlets and a slight increase in advertising & promotion income.

For the six month period, Caring’s net profit dropped 7.03% to RM9.14 million from RM9.83 million in the previous year’s corresponding quarter, while revenue rose 11.63% to RM330.17 million from RM295.77 million.

Looking ahead, the company will maintain its strategies to strengthen the operational productivity, digitalisation of business operations, stores refurbishment and appropriate marketing strategies to ensure that its core business will remain resilient.

“Nevertheless, the board of directors believes that the group will continue to achieve higher sales in the next quarter via year-end and festive sales and enjoy the higher profit,“ Caring said.

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