KUALA LUMPUR (April 25): Caring Pharmacy Group Bhd's net profit slipped 2.3% to RM5.16 million in the third financial quarter ended Feb 28, 2018 (3QFY18) from RM5.28 million a year ago, on higher income tax expense.

This resulted in a lower earnings per share of 2.37 sen in 3QFY18 compared with 2.43 sen in 3QFY17.

Quarterly revenue, however, rose 12.8% to RM130.48 million from RM115.66 million a year ago, thanks to higher sales generated from existing outlets due to aggressive and extensive promotional campaign launched during the current quarter under review.

For the cumulative nine months (9MFY18), Caring reported a 44.7% incease in net profit to RM12.69 million from RM8.77 million a year ago, while revenue grew 11.4% to RM379.18 million from RM340.46 million in 9MFY17.

On prospects, Caring warned that the operating environment is expected to remain highly competitive.

"Nevertheless, the group will continue to enhance operating efficiency and focus in 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," it added.

Caring shares were untraded today. The stock last closed at RM1.58, bringing a market value of RM343.98 million.