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Hai-O net profit up 32% to RM10mil
Sep 30, 2020
Source: The Star
 
 
“Operating profit margin improved to 19% compared with previous year’s corresponding period of 15% as a result of effective cost optimisation initiatives and a favourable change of sales mix. ” Hai-O said.
 

KUALA LUMPUR: Hai-O Enterprise Bhd’s net profit in the first quarter ended July 31 jumped on higher sales recorded by its multi-level marketing (MLM) division and improved operating margin.

Net profit rose 32% to RM10.26mil from RM7.7mil made a year ago. Revenue was 8% higher at RM71.2mil, the company said in a filing with Bursa Malaysia yesterday.

“Operating profit margin improved to 19% compared with previous year’s corresponding period of 15% as a result of effective cost optimisation initiatives and a favourable change of sales mix, ” it said.

The group would continue to enhance its digital marketing strategies across all major business segments to tap on opportunities and widen market coverage under the “new normal”.

“In response to the challenging business environment and subdued consumer sentiment, the group will roll out more small ticket items including health supplements to help users strengthen immunity at affordable prices, ” it said.

The MLM division is organising more marketing events such as local incentive trip campaigns to reward members.