Lower earnings for Amway on reduced sales

PETALING JAYA: Amway (M) Holdings Bhd’s net profit for its first quarter ended March 31, 2017 plunged 47.6% to RM9.45mil from RM18.05mil in the previous corresponding period, due to lower sales and higher import costs.

In a filing with Bursa Malaysia, the company said the lower sales, which was primarily due to the weaker ringgit and higher product costs, were partially offset by lower provisions for sales incentives and Amway Business Owner (ABO) incentive trips.