Tianjin Zhong Xin Pharmaceutical's Q3 profit down 6%

TIANJIN Zhong Xin Pharmaceutical Group Corp saw net profit for the third quarter ended Sept 30 slide 6 per cent year on year to 89.32 million yuan (S$18.4 million).

Meanwhile, revenue for the three month period fell 10 per cent to 1.49 billion yuan.

However, gross profit rose 9 per cent to 473.15 million yuan as cost of sales came down 17 per cent to 1.02 billion yuan. Earnings per share came to 0.12 yuan, down from 0.13 yuan a year ago.

The company said: "The group is striving to improve its operational efficiencies through strengthening its marketing plans to enhance the group's core competitiveness, focusing on research and development activities to enhance the group's competitive edge on technology innovation; and strengthening the internal controls and management of the group to reduce operational costs and enhance risk management."