Amway 2Q net profit jumps 148%, declares 5 sen dividend

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KUALA LUMPUR (Aug 21): Amway (Malaysia) Holdings Bhd has posted a 148% jump in net profit to RM18.49 million for the second quarter ended June 30 (2QFY19), against RM7.46 million in the same period last year, due to higher sales and lower import costs on the back of favourable foreign exchange impact.

Earnings per share improved to 11.25 sen versus 4.54 sen in 2QFY18, according to the group's filing to the local exchange.

Quarterly revenue was stagnant, inching up 1.31% to RM230.77 million, against RM227.78 million previously.

Amway declared an interim dividend of five sen per share, payable on Sept 26.

Net profit for the cumulative six months (6MFY19) grew 88.6% to RM29.11 million against RM15.44 million in the same period last year.

Revenue was 3.27% higher year-on-year at RM478.26 million compared to RM463.1 million due to positive sales momentum as well as product buy-up ahead of a price increase effective mid-March this year.

Amway closed unchanged at RM6 today for a market capitalisation of RM986.31 million. The counter has retreated 17.8% over the past one year from RM7.30.