Singapore-listed traditional Chinese medicine firm Eu Yan Sang says its full year net earnings surged 164 percent to 13 million dollars.

The higher net profit was a result of the absence of one-off losses it recorded in the previous year due to discontinued operations.

Revenue for the financial year ended June rose 7 percent to 223 million dollars.

The company says despite the recession, its retail segment remained strong.

But revenue at its wholesale fell 1 percent due to the delay in exports to China owing to a license renewal issue.

Looking ahead, Eu Yan Sang says although credit conditions have improved in the last two quarters, economic activities and retail statistics in its core markets remain weak.

The company will continue to seek growth opportunities balanced with prudent management.

It expects to remain profitable in the 2010 financial year barring unforeseen circumstances