Amway (Malaysia) Holdings Bhd’s net profit for the second quarter ended June 30, 2016 fell 39.6% to RM6.18 million from RM10.23 million a year ago due to higher import costs from the weaker ringgit and higher product prices, and increase in sales incentive provisions.
Group revenue was 43.0% higher at RM268.87 million in Q2 compared to RM187.99 million in the same period in 2015 as sales exhaled following a strong buy-up in Q1’15 ahead of the implementation of the Goods and Services Tax (GST) on April 1 2015.
Sales for the quarter under review were driven by strong Amway Business Owner (ABO) momentum and higher ABO qualifiers in response to the company’s 40th anniversary sales and marketing programmes, activities and promotions.
For the half year, its net profit fell 48.5% to RM24.23 million from RM47.07
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Amway Malaysia 2015 Q3 Down 5.9% To $5.8 Million
by Nicole Dunkley • • 0 Comments
Amway (Malaysia) Holdings Bhd’s net profit for the third quarter ended Sept 30, 2015 fell 52.9% to RM11.78 million ($27.5 Million) from RM25.02 million ($5.8 Million) a year ago due to adjustments made to reflect higher incentive provisions as a result of higher sales.
Its revenue was 10.3% higher at RM241.68 million in the third quarter compared with RM219.12 million in the previous year due primarily to continuous strong momentum coupled with the successful launch of BodyKey, the Nutrilite personalised weight management programme in September 2015.
For the nine months period, net profit dropped 23.2% to RM58.85 million from RM76.62 million a year ago due mainly to higher import costs (primarily caused by a weaker ringgit and transfer price impacts), as well as product mix impacts and higher sales incentive provisions driven by higher