KUALA LUMPUR (July 25): Caring Pharmacy Group Bhd posted an 11% drop in net profit to RM5.23 million in the fourth quarter ended May 31 from RM5.87 million a year ago, despite an 18.4% rise in revenue to RM153 million.

Earnings per share (EPS) for the quarter declined to 2.4 sen, from 2.7 sen in the corresponding quarter last year.  

Caring Pharmacy announced a final single tier tax-exempt dividend of 6 sen per share which is subject to shareholders' approval at its Annual General Meeting.

In the fourth quarter, the group opened four complex outlets and three high street outlets, while at the same time closing down two complex outlets and one high street outlet. As at end May the group had a total of 125 community pharmacies.

The group attributed the quarter-on-quarter fall in profit to the materialisation of annual purchase rebates from suppliers, which had contributed to higher earnings in 3Q.

For the full year, its cumulative net profit increased by some 12% y-o-y to RM20.73 million on the back of an 18% rise in revenue to RM599.23 million. The group attributed its higher revenue to sales generated from the establishment of 15 new outlets, as well as higher sales from its existing outlets.

FY19 EPS rose to 9.52 sen from 8.53 sen last year.

The counter closed 2.56% or five sen lower at RM1.90 — 5,000 shares changed hands — for a market capitalisation of RM413.64 million.