Caring Pharmacy Group Bhd (-ve)
TRADING of shares in Caring Pharmacy Group Bhd (fundamental: 2.5/3, valuation: 1.7/3) triggered our momentum algorithm last Friday after some 124,100 shares in the group were traded.
Comparatively, the counter’s 200-day average volume traded was 9,502 shares. The stock closed up two sen or 1.19% to RM1.70 last Friday, with a market capitalisation of RM370.1 million.
Caring posted a 4.3% increase in net profit for its second financial quarter ended Nov 30, 2018 (2QFY19) to RM5.74 million on the back of higher margins and sales from new and existing outlets. Revenue for the period rose 12.8% to RM139.2 million from RM123.45 million a year ago on the back of higher contributions from its 10 new outlets launched as well as its existing outlets.
Despite a competitive business environment, the group’s board of directors believes it will achieve higher sales in the next quarter.No tags for this post.