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NewsZhulian 1Q profit plunges 42% yoy to RM17.2m
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Zhulian 1Q profit plunges 42% yoy to RM17.2m
by Cals Thu 17 Apr 2014, 01:18
| Zhulian 1Q profit plunges 42% yoy to RM17.2m |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Wednesday, 16 April 2014 18:26 |
KUALA LUMPUR (Apr 16): Zhulian Corporation Bhd’s net profit plunged 42% year-on-year (y-o-y) to RM17.2 million in the first quarter ended Feb 28, 2014, from RM29.7 million a year ago.
Revenue also plunged 39% y-o-y to RM66.2 million from RM108.7 million.
Zhulian declared a first interim single tier dividend of 3 sen per ordinary share of RM0.50 each.
In a filing to the stock exchange, the multi-level marketing firm said the decrease in profit was in line with the drop in revenue.
Zhulian said the decrease in revenue was mainly due to a fall in both local and overseas market demands.
“The outlook of the current year remains cautiously optimistic as currently consumer sentiment on spending has been increasing,” said Zhulian going forward.
“We expect this will be translated into strengthening of demand both in local and overseas markets
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