Eu Yan Sang's Q3 profit hit by weaker revenue, higher expenses
Singapore
EU YAN Sang International reported a slump in net profit to S$286,000 for the third quarter ended March 31 from S$5.45 million, as it suffered a decline in operating revenue and incurred foreign exchange losses and expenses related to cessation of F&B operations in China.
Revenue during the quarter slipped 6 per cent to S$103.87 million, mainly due to a decrease in revenue generated from the Malaysian market as well as the weakening of the Malaysian ringgit.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
RBNZ has limited scope to cut cash rate this year: OECD
Crypto.com wants to sponsor more sports after Formula One Miami
Philippine central bank tightens dirty money risk reporting rule
It is time to put idle cash back into the market
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Gold dips as US dollar edges higher, investors seek more Fed cues