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Hai-O posts higher profit and revenue
Mar 30, 2017
Source: The Star
 

PETALING JAYA: Hai-O Enterprise Berhad has posted revenue and net profit of RM107.18mil and RM15.36mil respectively, for its third quarter ended Jan 31, 2017.

 

The revenue and net profit for the quarter rose by 33% and 57%, when compared to the corresponding period last year.

 

This brought its nine-month cumulative revenue and net profit to RM285.62mil and RM41.01mil.

 

The higher revenue during the quarter was achieved by the group’s multi-level marketing (MLM) and retail divisions.

 
In a Bursa Malaysia filing yesterday, Hai-O said the small ticket consumer products which comprise food and beverage, personal care, skincare series and household products which have higher recurring sales had contributed more than 70% to the total sales of the division, compared to the corresponding quarter last year.

 

Besides that, monthly recruited new members saw an increase to an average of 6,000 members.

 

Hai-O remains optimistic that the group will continue to be profitable in the next quarter, driven by various measures put in place.

 

As an example, the retail division is working on more new house-brand products to widen its product portfolio and will house more Chinese physicians for its outlets to complement its retail business.

 

The retail division is also currently undertaking rationalisation measures to scale down the non-performing outlets or to look for strategic locations for relocation.

 

As for Hai-O’s MLM division, a new brand of skin care series Infinence has been launched and the group will continue its various marketing events.