DUOPHARMA Biotech Bhd’s net profit declined 16.3% year-on-year (YoY) to RM12.03 million in the fourth quarter ended Dec 31, 2019 (4Q19), from RM14.37 million a year ago due to higher costs and expenses.

The group recorded RM24.32 million in distribution costs during the quarter compared to RM20.46 million posted in the same quarter the year prior, it said in an exchange filing yesterday.

Meanwhile, administration expenses increased to RM15.13 million (RM11.1 million in 4Q18) and other operating expenses rose to RM447,000 (RM39,000 in 4Q18).