PETALING JAYA: Multi-level marketing company Zhulian Corp Bhd posted a 9% decline in net profit to RM10.3mil for the second quarter ended May 31, 2021 from RM11.36mil a year earlier, on the back of a 4% drop in revenue to RM37.94mil.
In a filing with Bursa Malaysia yesterday, the group said it has maintained its interim dividend payout at three sen despite its topline and bottomline being hit by the Covid-19 pandemic.
Zhulian explained that its business is closely linked to the sentiments of the general consumer market and fluctuating foreign currency exchange.
In addition, the group’s financial performance would be impacted by the strengthening or weakening of the ringgit against the greenback as all its export revenue is transacted in US dollar.
Cumulatively, for the first half of the financial year ended May 31, Zhulian posted a 4% jump in net profit to RM23.14mil from RM22.22mil a year earlier.
Revenue for the period was lower by 5.9% to RM79.39mil compared to RM84.34mil previously.