KUALA LUMPUR: Multi-level marketing (MLM) company HAI-O
ENTERPRISE BHD [] posted a net profit of RM10.5 million, an 8%
increase from last year's RM9.3 million for its fourth quarter ended April
30, 2013 (4QFY13), contributed by its three main divisions.
In a filing with Bursa Malaysia yesterday, the group also reported a
higher revenue of RM72.1 million compared with RM69.6 million a year
ago.
It said its three main divisions — MLM, wholesale and retail — had
mainly contributed to the increase in revenue and profit.
Hai-O said profit in its MLM division rose 14% due to higher margin
products sold. Profit at its wholesale division also increased by 16% due
to higher contribution from inter-segment sales to its MLM division.
Its retail division saw a 25% increase in revenue as the Chinese New
Year festive season fell in 4QFY13. However, there was no increment to
profits due to higher operating costs incurred in the quarter.
Earnings per share were 5.1 sen compared with 4.69 sen the preceding
corresponding quarter.
The group also proposed a dividend of 8 sen per share, bringing the total
dividend for FY13 to 14 sen compared with 9 sen the year before.
For FY13, the group posted a net profit of RM47.4 million, a 39.5%
increase from RM34 million a year ago. This was on the back of higher
revenue of RM267.9 million compared with RM239.5 million recorded in
FY12.
On its outlook, Hai-O said the company is optimistic that it will continue
to be profitable as it has various plans for FY14, especially for its three
main divisions.
Its MLM division will be embarking on new product developments,
effective product training for distributors and growth of new membership,
while its wholesale division has successfully secured the exclusive
agency right on a few new branded Chinese medicated tonic to enhance
its product mix. "For [our] retail division, it has been operating in a very
tough business environment, as running costs and rental expenses have escalated recently ... therefore we are taking this
opportunity to relook its business strategies,” Hai-O added. — by Madiha Fuad
This article first appeared in The Edge Financial Daily, on June 27, 2013. credit to THE EDGE
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