PETALING JAYA: Hai-O Enterprise Bhd’s net profit for nine months ended Jan 31 surged 76% to RM13.4mil from RM7.6mil in the previous corresponding period. Revenue rose 18% to RM132.6mil from RM111.9mil a year ago. Earnings per share improved to 20.51sen from 12.23 sen before.
In a filing with Bursa Malaysia yesterday, the company attributed the improvement to better performance from its multi-level marketing division as well as the wholesale of pu-er tea.
During the third quarter under review, Hai-O posted a higher net profit of about RM5mil against RM2.6mil in the same quarter a year earlier while sales increased 41% to RM51.4mil from RM36.5mil before. It was also 23% higher than the revenue of RM41.9mil posted in the preceding quarter. Hai-O shares rose 4 sen to RM1.92 yesterday.
(The Star, 2007-03-21 )