KUALA LUMPUR (Oct 29): Caring Pharmacy Group Bhd, in which Tan Sri Vincent Tan Chee Yioun holds an indirect 18.05% stake in the company according to Bloomberg data, posted a net profit of RM554,000 or 25 sen per share on revenue of RM88.39 million in the first financial quarter ended Aug 31, 2014 (1QFY15).

In a filing with Bursa Malaysia today, Caring Pharmacy said there was no comparative figures for the preceding year's corresponding period as this was its first interim financial report since listing on Nov 13 last year.

The group did not declare any dividend for the quarter.

As at Aug 31, 2014, Caring Pharmacy’s total assets stood at RM193.93 million against total liabilities of RM76.45 million.

According to the group, it has established an additional two new shopping complex outlets in 1QFY15, bringing its total community pharmacy stores to 101.

On its outlook, Caring Pharmacy expects the purchasing power of the domestic consumer to decline due to the subsidy rationalisation programme announced by the government.

“To mitigate the impact of the above said factor, the group is currently taking necessary pre-emptive measure to sustain the revenue and profit margin of the matured outlets and increase the revenue of the new outlets.

“Taking the above factors, the board is cautiously optimistic of the group’s performance for the remaining financial year,” it said.

Shares of Caring Pharmacy closed down 0.65% at RM1.54 today, giving a market capitalisation of RM346.15 million.