KUALA LUMPUR (Nov 16): Shares in YSP Southeast Asia Holding Bhd (YSPSAH) fell to its 52-week low of RM1.99 today, after posting weaker earnings in its third financial quarter ended Sept 30, 2016 (3Q FY16).

At 2.34pm, YSPSAH shares lost 8 sen or 3.8% to trade at RM2.02, valuing it at RM272 million. 

The counter, which is among the top decliners on Bursa Malaysia today, was heavily traded with some 1.088 million shares done as at press time.

YSPSAH told the stock exchange yesterday (Nov 15) that its net profit declined 60% to RM3.94 million in the third quarter ended Sept 30, 2016 (3QFY16), down from RM9.83 million a year ago, due to lower gross margins, lower unrealised foreign exchange gain and higher operating cost.

The generic drug maker also said its revenue remained flat at RM59.19 million in 3QFY16, compared with RM59.31 million a year before.

For the nine-month period (9MFY16), YSPSAH’s net profit also fell 31% to RM15.64 million, down from RM22.6 million a year ago. 

However, the pharmaceutical, healthcare and veterinary products specialist saw its revenue grow 4.7% to RM177.35 million, up from RM169.26 million a year earlier, mainly driven by higher sales achieved from overseas markets and its subsidiary in Vietnam.

Going forward, YSPSAH expects market outlook for 2016 to remain challenging, with persistent foreign exchange volatility.

“Notwithstanding the economic uncertainty, the group remains focused [on] improving operational efficiency, increasing product registration and embarking on more aggressive marketing, promotional and sales strategies, to facilitate a sustainable performance in the year,” it said.