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Tianjin Zhongxin Pharma's 1Q earnings rise 30% to $36.3 mil on higher margins

Michelle Zhu
Michelle Zhu4/27/2018 05:47 PM GMT+08  • 1 min read
Tianjin Zhongxin Pharma's 1Q earnings rise 30% to $36.3 mil on higher margins
SINGAPORE (Apr 27): Tianjin Zhongxin Pharmaceutical Group announced earnings of RMB173.4 million ($36.3 million) for the first quarter ended March, up 30% from its 1Q17 earnings of $133.8 million a year ago on improved gross profit margins.
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SINGAPORE (Apr 27): Tianjin Zhongxin Pharmaceutical Group announced earnings of RMB173.4 million ($36.3 million) for the first quarter ended March, up 30% from its 1Q17 earnings of $133.8 million a year ago on improved gross profit margins.

Revenue for the quarter grew 9% to RMB1.6 billion compared to RMB1.5 billion a year ago.

Cost of sales fell 1% to RMB914 million from RMB926.1 million in 1Q17, while marketing & distribution costs grew 30% to RMB497 million due to an increase in sales promotion expenses.

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