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.

The traditional Chinese medicine retailer was also dealt a blow from foreign exchange losses of S$1.9 million from the weakening in Hong Kong dollar during the third quarter and "other losses" of S$2.79 million. The latter largely stemmed from the closing of two remaining F&B restaurants in C…