Amway Malaysia Holdings Bhd registered higher profit before tax (PBT) for the fourth quarter for financial year ended on December 31, 2017 (4QFY17) of RM 17.8 million.
The PBT increase by 22.2 per cent compared to the same period in 2016 which registered PBT of RM14.6 million.
In a statement, Amway attributes the increase to higher sales coupled with lower incentive trip cost and operating expenses, partially offset by higher import costs primarily attributed to the weaker Ringgit.
Its executive director, Mike Duong, said 2017 was a challenging year due to decline in consumer confidence but the last quarter of 2017 showed promising result compared to the same period in the corresponding year.
However, for financial year 2017, Amway recorded a decrease in revenue by 9.5 per cent with RM 987.2 million compared to RM1.087 billion in 2016.
Profit before tax for the financial year ended December 31, 2017 was RM70.5 million, a decrease of 3.4 per cent as compared to the same period in 2016 which recorded RM73 million.
This is attributable to ower sales and higher import costs, primarily caused by the weaker Ringgit and higher product prices
“Despite a decline in 2017 and given the positive start to the new ABO performance year commencing in September 2017 in conjunction with Amway Headquarters’ 60 years anniversary programmes, the Board expects the Group’s sales to stabilize in 2018,” said Amway managing director, Martin Liou on 2018 prospects.
Amway has declared a fourth single tier interim dividend of 5.0 sen net per share in the quarter and a special single tier interim dividend of 7.5 sen net per share, bringing the total dividend for the year 2017 to 27.5 sen net per share.