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Amway (Malaysia) Holdings Q3 profit falls YOY

Amway (Malaysia) Holdings Bhd. said its third-quarter normalized net income was 6 Malaysian sen per share, a decrease of 49.3% from 12 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.3 million ringgits, a decline of 49.3% from 20.4 million ringgits in the prior-year period.

The normalized profit margin declined to 4.3% from 9.3% in the year-earlier period.

Total revenue grew 10.3% on an annual basis to 241.7 million ringgits from 219.1 million ringgits, and total operating expenses increased 21.1% from the prior-year period to 227.9 million ringgits from 188.3 million ringgits.

Reported net income declined 52.9% on an annual basis to 11.8 million ringgits, or 7 sen per share, from 25.0 million ringgits, or 15 sen per share.

As of Nov. 18, US$1 was equivalent to 4.36 ringgits.