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NewsAmway H1 profit grows to RM53m
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Amway H1 profit grows to RM53m
by hlk Wed 10 Aug 2011, 22:05
Amway (M) Holdings Bhd's pre-tax profit for the six months ended June 30, 2011 rose 1.3 per cent to RM53.013 million from RM52.333 million in the same period last year.
In a statement today, Amway attributed the increase to favourable ringgit-US dollar exchange rate and offset by higher advertising and promotional expenses coupled with higher operating cost arising from investment in consumer access driven strategies.
However, the group’s sales revenue recorded a decrease of 0.5 per cent to RM341 million for the six months ended June 30 2011 as compared to RM343.8 million previously due to weaker consumer spending arising from firming inflationary expectation coupled with the sales of corresponding period was boosted by pre-price increase buying ahead of the distributor price increase
effective March 1 2010.
On outlook, Amway said, the economic environment remained challenging but with the marketing and sales programmes the group has put in place to support distributors to grow their business, it was cautiously optimistic of achieving growth in sales revenue in the current financial year. -- Bernama
In a statement today, Amway attributed the increase to favourable ringgit-US dollar exchange rate and offset by higher advertising and promotional expenses coupled with higher operating cost arising from investment in consumer access driven strategies.
However, the group’s sales revenue recorded a decrease of 0.5 per cent to RM341 million for the six months ended June 30 2011 as compared to RM343.8 million previously due to weaker consumer spending arising from firming inflationary expectation coupled with the sales of corresponding period was boosted by pre-price increase buying ahead of the distributor price increase
effective March 1 2010.
On outlook, Amway said, the economic environment remained challenging but with the marketing and sales programmes the group has put in place to support distributors to grow their business, it was cautiously optimistic of achieving growth in sales revenue in the current financial year. -- Bernama
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