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Hai-O Pre-tax Profit Falls To RM41m
Jun 27, 2011
Source: Bernama
 

Hai-O Enterprise Bhd’s pre-tax distinction for financial year finished April 30, 2011 fell to RM41.38 million from RM95.62 million in the same time final year.

Revenue forsaken to RM223.15 million from RM511.06 million previously.

In a filing to Bursa Malaysia today, Hai-O mentioned this was primarily due to descend grant from its leading subsidiary, the multi-level selling (MLM) division.

“The section faced a struggling year to realign its business strategies and remodel its distributor’s network, that is right away commencement to see certain results,” it said.

On prospects, it mentioned with assorted measures taken to upgrade capability and concentration on its core business, the organisation would go on to be essential in the next financial year.