Press Releases
Hai-O Q2 net profit jumps 34.8%
Dec 18, 2017
Source: The Sun Daily
PETALING JAYA: Hai-O Enterprise Bhd’s net profit jumped 34.8% to RM21.4 million for the second quarter ended Oct 31, 2017, from RM15.9 million in the previous corresponding quarter, mainly due to the increase in revenue from its wholesale and multi-level marketing divisions.
Revenue for the quarter rose 23.8% to RM123.5 million, against RM99.8 million in the same period last year.
During the six months period, its net profit grew 53% to RM39.3 million, from RM25.6 million a year ago, while revenue increased 39% from RM178.4 million to RM248.1 million.
Moving forward, the group said it will remain cautious and implement various business strategies in order to achieve sustainable performance. The board said it remains optimistic that the group will continue to be profitable in the next quarter.
In a separate announcement, the group said it has proposed a single tier interim dividend of 6 sen per ordinary share for the financial year ending April 30, 2018.
Hai-O gained 6 sen or 1.11% to RM5.47 with 242,800 shares done.