Business & Finance
Spring Pharmaceutical Group posts higher net income of USD12.91m for the nine months ended 31 December 2018
15 February 2019 -

Health care supplement products Spring Pharmaceutical Group Inc (OTCQB:CYIG) stated on Thursday its net income of USD12.91m (USD0.43 per basic and diluted share) for the nine months ended 31 December 2018.

This marks an improvement when compared with net income of USD8.82m (USD0.30 per basic and diluted share) for the same period of the prior fiscal year.

Total revenues of USD59.07m were collected for the nine months ended 31 December 2018, up 22.5% from total revenues of USD48.21m for the same period of the prior fiscal year. The increase in total revenues was across the all three product categories with sales for acer truncatum seed oil particularly strong

Research and development expenses of USD0.69m were recorded for the nine months ended 31 December 2018, a rise of 69.3% from R&D of USD0.41m for the same period of the prior fiscal year, mainly due to the increased cost of the materials used by the R&D department.

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