Amway's best quarter ever in terms of profit

  • Business
  • Tuesday, 29 Jul 2003

AMWAY (M) HOLDINGS BHD has posted a 25% increase in pre-tax profit to RM21.1mil for its third quarter ended May 31 from RM16.8mil in the previous corresponding quarter. Revenue for the quarter was RM120.3mil, up 32% from RM91.5mil a year ago. 

The latest quarterly results took the company's cumulative pre-tax profit for the first nine months of its current financial year to RM60mil on turnover of RM318.7mil, compared with a pre-tax profit of RM54.6mil on turnover of RM281.7mil for the same period the year before. 

Amway managing director Low Han Kee said in a statement that this was the company's best quarter in terms of turnover in its 27-year history. 

He said the company's strong financial performance was powered by several factors: the perseverance of its distributors, its steady reputation as a provider of premium products and services and the favourable response from consumers to various product promotions, especially its water treatment system trade-in programme. 

“The government's confidence in achieving 4.5% gross domestic product growth this year may boost consumer sentiment and spending in the coming months which we hope will translate into better sales for Amway,” he added. 

“Based on the current trend of distributor productivity and favourable economic indicators, Amway is optimistic of a reasonably good performance for the year,” he said. 

The company has announced an interim dividend of 7.5 sen and a special dividend of 20 sen per share less 28% income tax for the third quarter.  

Stockcheck on Amway

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