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Hai-O posts lower profit
Sep 20, 2013
Source: The Star
 

PETALING JAYA: Hai-O Enterprise Bhd has recorded a lower revenue and pre-tax profit of RM54.7mil and RM11.8mil, respectively, for the first quarter ended July 31, dipping 9.7% and 14.68%, respectively, from the previous corresponding quarter.

Hai-O told Bursa Malaysia that group revenue decreased due to lower sales in the multi-level marketing division.

It also said the mandatory adoption of new standards issued by the Malaysian Accounting Standards Board effective Jan 1 contributed to the lower figures.