PETALING JAYA: Hai-O Enterprise Bhd posted a 76% surge in net profit to RM7mil in the first quarter ended July 31 compared with RM4mil in the previous corresponding period, thanks to its multi-level marketing (MLM) division.
Revenue for the three months rose almost 51% to RM59.3mil from RM39.4mil previously, while earnings per share improved to 10.53 sen from 5.41 sen.
Hai-O is a manufacturer and wholesaler of traditional herbal and pharmaceutical products.
In a filing with Bursa Malaysia yesterday, Hai-O said the MLM division was able to capture a bigger share of the industry owing to its dedicated network of distributors and continual efforts to recruit new members.
Consumer spending and domestic consumption power were expected to remain strong, Hai-O said, adding: “Therefore, the board is confident that the group’s performance will remain profitable.”