From The Star Online:
KUALA LUMPUR: Amway (M) Holdings Bhd posted a net profit of
RM19.4mil for the first quarter ended March 31, or 7% lower than the
previous corresponding period’s of almost RM21mil, due to the
unfavourable exchange rate for the ringgit against the US dollar,
coupled with increased promotional expenses.
In a filing with
Bursa Malaysia, it said it posted 13% increase in revenue to RM163.8mil
from RM144.8mil previously, due to effective promotional activities and
higher productivity of distributors.
On a quarterly basis, the
first quarter’s net profit was 11% lower than the fourth quarter’s
RM21.9mil, while revenue fell 4.7%, as there were more buying
activities in the previous quarter prior to the price increase, as well
as due to weaker consumer sentiment in the quarter under review.
Together with the first-quarter results, Amway also declared the first interim single tier dividend of 7 sen per share.
It
was expected to achieve marginal growth in revenue for the current
financial year ending Dec 31 as consumer sentiment in the near to
medium term would be affected unfavourably by the global economic
slowdown and other uncertainties in the marketplace, the company said
in the notes.
