PETALING JAYA: Hai-O Enterprise Bhd is optimistic of turning in strong performance for the remaining quarters of the financial year ending Apr 30, 2008, according to chief financial officer Hew Von Kin.
“Our MLM (multi-level marketing) division is seeing on average 2,000 new members every month. This segment will continue to buoy earnings,” he told StarBiz.
On Tuesday, the main board listed company reported a sterling set of results for the second quarter ended Oct 31.
Net profit leaped 84% to RM9.1mil from RM4.9mil in the previous corresponding period in 2006 while revenue rose almost two-fold to RM80.5mil from RM41.9mil a year ago.
Earnings per share (EPS) improved to 13.55 sen from 7.55 sen previously.
For the first six months, net profit surged 88% to RM16.2mil against RM8.5mil while sales rose to RM139.8mil from RM81.2mil. EPS grew to 24.08 sen from 12.96 sen previously.
The MLM business contributed about 71% of total sales in the first half year. Hew said the retail operations were also picking up due to the opening of new outlets in Jusco Bukit Tinggi in Klang; Giant hypermarket Puchong and Carrefour Subang.
In the notes that accompanied the results, Hai-O said it was confident that it would achieve its internal target of RM200mil in turnover in two years.
The company has declared an interim dividend of 8% per share.