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Eu Yan Sang's Q3 net profit up 4%

Traditional Chinese medicine firm Eu Yan Sang International posted on Tuesday a 4 per cent rise in fiscal third quarter net profit, helped by stronger sales in Hong Kong, Malaysia and Australia.

SINGAPORE: Traditional Chinese medicine firm Eu Yan Sang International posted on Tuesday a 4 per cent rise in fiscal third quarter net profit, helped by stronger sales in Hong Kong, Malaysia and Australia.

Singapore-listed Eu Yan Sang -- which was founded in Gopeng, Perak, 135 years ago -- earned S$8.8 million in the three months ended March, up from S$8.4 million in the same period a year ago.

Revenue for the quarter rose 9 per cent to S$110.3 million.

Hong Kong and Macau saw revenues grow 23 per cent year-on-year, boosted by increased sales to tourists from the mainland. Malaysian sales gained 4 per cent while Singapore's sales dipped 3 per cent.

Australian sales improved 25 per cent largely due to the increased number of company-operated outlets, which translated to a better retail performance.

Looking ahead, Group CEO Richard Eu said he was optimistic the sales momentum can sustain into the current quarter, putting Eu Yan Sang on track to achieve another fiscal year of record revenue since listing. 

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